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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- The University of Queensland
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
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