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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Economic Council, Georgia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
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