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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
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