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, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years Utilities globally started changing the way they do business ye ...


Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...


Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...


Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.   The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...


Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.   C ...


   158 159 160 161 162   
Showing 796 to 800 news of total 6871
News by Category
Popular News
 
Total Members : 28,634
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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