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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
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