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

Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...


Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...


Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...


Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...


Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...


   26 27 28 29 30   
Showing 136 to 140 news of total 6871
News by Category
Popular News
 
Total Members : 28,701
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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