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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
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