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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- The University of Queensland
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
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