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, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...


Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week. The Q3 swap was declined US$ 0 ...


Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week. The Q3 swap h ...


Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...


Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...


   604 605 606 607 608   
Showing 3026 to 3030 news of total 6871
News by Category
Popular News
 
Total Members : 28,636
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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