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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, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
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Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
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- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Planning Commission, India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- India Bulls Power Limited - India
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