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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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- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- London Commodity Brokers - England
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