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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
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