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

Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.   In its fi ...


Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...


Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...


Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...


Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...


   295 296 297 298 299   
Showing 1481 to 1485 news of total 6871
News by Category
Popular News
 
Total Members : 28,706
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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