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