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