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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, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Anglo American - United Kingdom
- PTC India Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
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