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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, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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