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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
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