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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
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