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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
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