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