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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
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