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

Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...


Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...


Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...


Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...


Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...


   450 451 452 453 454   
Showing 2256 to 2260 news of total 6871
News by Category
Popular News
 
Total Members : 28,692
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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