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