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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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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Minerals Council of Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
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