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, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...


Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...


Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...


Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...


Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...


   636 637 638 639 640   
Showing 3186 to 3190 news of total 6871
News by Category
Popular News
 
Total Members : 28,635
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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