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