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