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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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- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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