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