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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 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
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