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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
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