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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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
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