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

Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...


Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...


Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...


Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...


Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...


   188 189 190 191 192   
Showing 946 to 950 news of total 6871
News by Category
Popular News
 
Total Members : 28,624
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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