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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 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
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