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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
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