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, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...


Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...


Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...


Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...


Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia. With the cooperation of  ...


   734 735 736 737 738   
Showing 3676 to 3680 news of total 6871
News by Category
Popular News
 
Total Members : 28,691
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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