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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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- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
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