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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
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