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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
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