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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
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