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

Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014. ...


Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...


Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...


Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...


Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems   to have no effect at ...


   363 364 365 366 367   
Showing 1821 to 1825 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 ...

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