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

Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...


Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...


Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate  u ...


Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...


Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million. ...


   1358 1359 1360 1361 1362   
Showing 6796 to 6800 news of total 6871
News by Category
Popular News
 
Total Members : 28,634
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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