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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
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