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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
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- White Energy Company Limited
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- Directorate Of Revenue Intelligence - India
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- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- VISA Power Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
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- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
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- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
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- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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