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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement relating to the right to mine and market coal from the KEM coal project in Central Kalimantan, Indonesia.
According to company’s press release, the Exclusivity Agreement with CV Kara Elmas Madenleri ("KEM") gives Challenger the exclusive right, for a period of sixty days, to conduct due diligence on the KEM coal project and to enter into a Mining Operation - Production Agreement for the project. Once Challenger Deep Resources Corp entered in to the Mining Operation - Production Agreement, then it will be benefited of full control of all coal production and marketing within the KEM project area.
KEM owns 100% of the KEM Coal Project in the Murah Teweh district of Central Kalimantan. The KEM Project is located just 12 kilometers east of the Barito River, the main river which transport coal to nearest anchorage position in South Kalimantan.
The KEM Project covers 335ha with an IUP OP license in place. KEM is a multi-seam high-quality thermal coal project with existing infrastructure in place to enable an early start to production. Infrastructure in place includes a 12km haul road and loading jetty, the report further said.
"This is a very important development for Challenger", states Ranjeet Sunder, President and CEO of Challenger. "The KEM Project gives us the potential to generate near-term cash flow which will provide funding for our Tabang Project development and will enable us to capitalize on other high-quality opportunities, while minimizing dilution to our shareholders during these difficult capital markets. We view this project as having very low risk and relatively low capital requirements which are both key elements in our Indonesian coal strategy", the press release says.
About Challenger
Challenger Deep Resources Corp. is an exploration company focused on the Asian coal industry. Challenger's business plan is to acquire, explore and to bring its viable coal projects into production. Challenger has an experienced Indonesian exploration and mining team with offices in Calgary, Singapore and Jakarta.
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Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points,  ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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