COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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.



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...


Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...


Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...


Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy After  a  quiet  end  to  last  week,  the  Atlantic  handysize  market  continued&nb ...


Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...


   1157 1158 1159 1160 1161   
Showing 5791 to 5795 news of total 6871
News by Category
Popular News
 
Total Members : 28,697
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Binh Thuan Hamico - Vietnam
  • LBH Netherlands Bv - Netherlands
  • WorleyParsons
  • Electricity Authority, New Zealand
  • Parliament of New Zealand
  • Posco Energy - South Korea
  • Bank of America
  • Standard Chartered Bank - UAE
  • Cebu Energy, Philippines
  • Heidelberg Cement - Germany
  • Tata Chemicals Ltd - India
  • Idemitsu - Japan
  • ING Bank NV - Singapore
  • Maruti Cements - India
  • Ministry of Finance - Indonesia
  • Bangladesh Power Developement Board
  • Japan Coal Energy Center
  • IOL Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • Global Green Power PLC Corporation, Philippines
  • CNBM International Corporation - China
  • South Luzon Thermal Energy Corporation
  • Vijayanagar Sugar Pvt Ltd - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Freeport Indonesia
  • Interocean Group of Companies - India
  • Krishnapatnam Port Company Ltd. - India
  • Latin American Coal - Colombia
  • PowerSource Philippines DevCo
  • Madhucon Powers Ltd - India
  • Sarangani Energy Corporation, Philippines
  • Qatrana Cement - Jordan
  • Moodys - Singapore
  • Leighton Contractors Pty Ltd - Australia
  • Kobexindo Tractors - Indoneisa
  • KPCL - India
  • Price Waterhouse Coopers - Russia
  • Tamil Nadu electricity Board
  • PNOC Exploration Corporation - Philippines
  • Total Coal South Africa
  • Asia Cement - Taiwan
  • Energy Link Ltd, New Zealand
  • Baramulti Group, Indonesia
  • Mintek Dendrill Indonesia
  • Wood Mackenzie - Singapore
  • Samtan Co., Ltd - South Korea
  • NALCO India
  • NTPC Limited - India
  • globalCOAL - UK
  • Global Coal Blending Company Limited - Australia
  • Manunggal Multi Energi - Indonesia
  • Bukit Asam (Persero) Tbk - Indonesia
  • Dalmia Cement Bharat India
  • Aboitiz Power Corporation - Philippines
  • Australian Commodity Traders Exchange
  • Thermax Limited - India
  • ICICI Bank Limited - India
  • Attock Cement Pakistan Limited
  • Ambuja Cements Ltd - India
  • Vale Mozambique
  • Britmindo - Indonesia
  • Toyota Tsusho Corporation, Japan
  • ANZ Bank - Australia
  • Kepco SPC Power Corporation, Philippines
  • Glencore India Pvt. Ltd
  • HSBC - Hong Kong
  • Enel Italy
  • Maharashtra Electricity Regulatory Commission - India
  • Vitol - Bahrain
  • Bhushan Steel Limited - India
  • GNFC Limited - India
  • Bharathi Cement Corporation - India
  • Formosa Plastics Group - Taiwan
  • Kohat Cement Company Ltd. - Pakistan
  • Inspectorate - India
  • PLN - Indonesia
  • Planning Commission, India
  • Peabody Energy - USA
  • Meralco Power Generation, Philippines
  • Globalindo Alam Lestari - Indonesia
  • Central Electricity Authority - India
  • Thriveni
  • Bhatia International Limited - India
  • Siam City Cement PLC, Thailand
  • IBC Asia (S) Pte Ltd
  • Sree Jayajothi Cements Limited - India
  • GHCL Limited - India
  • Gresik Semen - Indonesia
  • GB Group - China
  • Parry Sugars Refinery, India
  • Rashtriya Ispat Nigam Limited - India
  • World Bank
  • BNP Paribas - Singapore
  • Cardiff University - UK
  • Independent Power Producers Association of India
  • Bahari Cakrawala Sebuku - Indonesia
  • Samsung - South Korea
  • Coal India Limited
  • Sucofindo - Indonesia
  • Global Business Power Corporation, Philippines
  • KPMG - USA
  • Ind-Barath Power Infra Limited - India
  • Coal and Oil Company - UAE
  • Pipit Mutiara Jaya. PT, Indonesia
  • Neyveli Lignite Corporation Ltd, - India
  • TGV SRAAC LIMITED, India
  • The University of Queensland
  • Lanco Infratech Ltd - India
  • Jaiprakash Power Ventures ltd
  • Semirara Mining Corp, Philippines
  • Sinarmas Energy and Mining - Indonesia
  • Infraline Energy - India
  • Minerals Council of Australia
  • APGENCO India
  • GVK Power & Infra Limited - India
  • Mjunction Services Limited - India
  • UBS Singapore
  • Karbindo Abesyapradhi - Indoneisa
  • Vizag Seaport Private Limited - India
  • Humpuss - Indonesia
  • Renaissance Capital - South Africa
  • Pinang Coal Indonesia
  • Maheswari Brothers Coal Limited - India
  • India Bulls Power Limited - India
  • Alfred C Toepfer International GmbH - Germany
  • EMO - The Netherlands
  • PetroVietnam
  • Cigading International Bulk Terminal - Indonesia
  • ETA - Dubai
  • Directorate Of Revenue Intelligence - India
  • Kalimantan Lumbung Energi - Indonesia
  • ASAPP Information Group - India
  • Mercator Lines Limited - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Mercuria Energy - Indonesia
  • JPower - Japan
  • Wilmar Investment Holdings
  • Arutmin Indonesia
  • Salva Resources Pvt Ltd - India
  • Bulk Trading Sa - Switzerland
  • Georgia Ports Authority, United States
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • KEPCO - South Korea
  • Permata Bank - Indonesia
  • Chettinad Cement Corporation Ltd - India
  • Oldendorff Carriers - Singapore
  • Kartika Selabumi Mining - Indonesia
  • Ernst & Young Pvt. Ltd.
  • New Zealand Coal & Carbon
  • OPG Power Generation Pvt Ltd - India
  • Asian Development Bank
  • London Commodity Brokers - England
  • Savvy Resources Ltd - HongKong
  • Adani Power Ltd - India
  • Sakthi Sugars Limited - India
  • DBS Bank - Singapore
  • Xstrata Coal
  • Indorama - Singapore
  • Platou - Singapore
  • Mitra SK Pvt Ltd - India
  • Gujarat Electricity Regulatory Commission - India
  • Timah Investasi Mineral - Indoneisa
  • San Jose City I Power Corp, Philippines
  • Russian Coal LLC
  • Trasteel International SA, Italy
  • Bukit Makmur.PT - Indonesia
  • MS Steel International - UAE
  • White Energy Company Limited
  • Cemex - Philippines
  • Coalindo Energy - Indonesia
  • Lafarge - France
  • IEA Clean Coal Centre - UK
  • SUEK AG - Indonesia
  • Africa Commodities Group - South Africa
  • Cement Manufacturers Association - India
  • Bank of China, Malaysia
  • Uttam Galva Steels Limited - India
  • Rudhra Energy - India
  • Coeclerici Indonesia
  • ACC Limited - India
  • SMG Consultants - Indonesia
  • JPMorgan - India
  • Agrawal Coal Company - India
  • Orica Mining Services - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Metalloyd Limited - United Kingdom
  • PLN Batubara - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Cargill India Pvt Ltd
  • Ministry of Transport, Egypt
  • Argus Media - Singapore
  • OCBC - Singapore
  • Economic Council, Georgia
  • CESC Limited - India
  • Sindya Power Generating Company Private Ltd
  • PetroVietnam Power Coal Import and Supply Company
  • SMC Global Power, Philippines
  • Ministry of Mines - Canada
  • McKinsey & Co - India
  • Arch Coal - USA
  • Bhoruka Overseas - Indonesia
  • European Bulk Services B.V. - Netherlands
  • Siam City Cement - Thailand
  • Runge Indonesia
  • Gujarat Sidhee Cement - India
  • Indian Oil Corporation Limited
  • Marubeni Corporation - India
  • Adaro Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • SRK Consulting
  • MEC Coal - Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Straits Asia Resources Limited - Singapore
  • SGS (Thailand) Limited
  • Ince & co LLP
  • Gupta Coal India Ltd
  • CIMB Investment Bank - Malaysia
  • Indonesian Coal Mining Association
  • World Coal - UK
  • Simpson Spence & Young - Indonesia
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • International Coal Ventures Pvt Ltd - India
  • BRS Brokers - Singapore
  • Eastern Coal Council - USA
  • Power Finance Corporation Ltd., India
  • Vedanta Resources Plc - India
  • Cosco
  • Electricity Generating Authority of Thailand
  • Meenaskhi Energy Private Limited - India
  • Platts
  • Aditya Birla Group - India
  • Singapore Mercantile Exchange
  • IHS Mccloskey Coal Group - USA
  • Ceylon Electricity Board - Sri Lanka
  • Goldman Sachs - Singapore
  • Geoservices-GeoAssay Lab
  • Barclays Capital - USA
  • Anglo American - United Kingdom
  • Borneo Indobara - Indonesia
  • Noble Europe Ltd - UK
  • Shree Cement - India
  • GAC Shipping (India) Pvt Ltd
  • Tanito Harum - Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • The Treasury - Australian Government
  • Jindal Steel & Power Ltd - India
  • Merrill Lynch Bank
  • Barasentosa Lestari - Indonesia
  • Petrosea - Indonesia
  • Fearnleys - India
  • VISA Power Limited - India
  • Sojitz Corporation - Japan
  • Edison Trading Spa - Italy
  • TANGEDCO India
  • TRAFIGURA, South Korea
  • Eastern Energy - Thailand
  • Videocon Industries ltd - India
  • TeaM Sual Corporation - Philippines
  • Mitsui
  • McConnell Dowell - Australia
  • Core Mineral Indonesia
  • KOWEPO - South Korea
  • Thomson Reuters GRC
  • Malabar Cements Ltd - India
  • Carbofer General Trading SA - India
  • Grasim Industreis Ltd - India
  • Bukit Baiduri Energy - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Karaikal Port Pvt Ltd - India
  • Gujarat Mineral Development Corp Ltd - India
  • Thiess Contractors Indonesia
  • Kideco Jaya Agung - Indonesia
  • GMR Energy Limited - India
  • Intertek Mineral Services - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Kaltim Prima Coal - Indonesia
  • SASOL - South Africa
  • GN Power Mariveles Coal Plant, Philippines
  • The State Trading Corporation of India Ltd
  • Petron Corporation, Philippines
  • Shenhua Group - China
  • Indian Energy Exchange, India
  • Bayan Resources Tbk. - Indonesia
  • Riau Bara Harum - Indonesia
  • Central Java Power - Indonesia
  • IMC Shipping - Singapore
  • Merrill Lynch Commodities Europe
  • Xindia Steels Limited - India
  • CoalTek, United States
  • Bangkok Bank PCL
  • Kapuas Tunggal Persada - Indonesia
  • Deutsche Bank - India
  • J M Baxi & Co - India
  • Mechel - Russia
  • Deloitte Consulting - India
  • Holcim Trading Pte Ltd - Singapore
  • CCIC - Indonesia
  • bp singapore
  • Medco Energi Mining Internasional
  • Kumho Petrochemical, South Korea
  • TNPL - India
  • PTC India Limited - India
  • Commonwealth Bank - Australia
  • Thai Mozambique Logistica
  • Indogreen Group - Indonesia
  • Asmin Koalindo Tuhup - Indonesia
  • EIA - United States
  • Miang Besar Coal Terminal - Indonesia
  • Credit Suisse - India
  • Sical Logistics Limited - India
  • Malco - India
  • Port Waratah Coal Services - Australia
  • Chamber of Mines of South Africa
  • Indo Tambangraya Megah - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Coal Orbis AG
  • Jatenergy - Australia
  • Pendopo Energi Batubara - Indonesia
  • Banpu Public Company Limited - Thailand
  • Orica Australia Pty. Ltd.
  • Australian Coal Association
  • Coastal Gujarat Power Limited - India
  • RBS Sempra - UK
  • Berau Coal - Indonesia
  • Energy Development Corp, Philippines
  • Surastha Cement
  • Star Paper Mills Limited - India
  • Maersk Broker
  • U S Energy Resources
  • Maybank - Singapore
  • Mitsubishi Corporation
  • Kobe Steel Ltd - Japan
  • Semirara Mining and Power Corporation, Philippines
  • Romanian Commodities Exchange
  • Thailand Anthracite
  • The India Cements Ltd
  • Tata Power - India
  • Makarim & Taira - Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Therma Luzon, Inc, Philippines
  • Indonesia Power. PT
  • Coaltrans Conferences
  • Indika Energy - Indonesia
  • Essar Steel Hazira Ltd - India
  • Antam Resourcindo - Indonesia
  • Altura Mining Limited, Indonesia
  • Larsen & Toubro Limited - India
  • Clarksons - UK
  • Inco-Indonesia
  • Reliance Power - India
  • Panama Canal Authority
  • Rio Tinto Coal - Australia
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • UOB Asia (HK) Ltd
  • Indian School of Mines