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