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