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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
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- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
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- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
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