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

Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped  31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...


Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points. The Cape Si ...


Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...


Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...


Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...


   942 943 944 945 946   
Showing 4716 to 4720 news of total 6871
News by Category
Popular News
 
Total Members : 28,695
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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