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