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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak and a ...


Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...


Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...


Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...


Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...


   486 487 488 489 490   
Showing 2436 to 2440 news of total 6871
News by Category
Popular News
 
Total Members : 28,706
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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