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