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

Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...


Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long ...


Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...


Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...


Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...


   56 57 58 59 60   
Showing 286 to 290 news of total 6871
News by Category
Popular News
 
Total Members : 28,700
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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