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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
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