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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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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- The University of Queensland
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
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