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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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PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
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BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
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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- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
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