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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
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- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
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- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
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- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
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- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
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- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
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- Planning Commission, India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
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- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Australian Coal Association
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
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