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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
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