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