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