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