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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, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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