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, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05  (-0 ...


Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...


Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry. ...


Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...


Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...


   612 613 614 615 616   
Showing 3066 to 3070 news of total 6871
News by Category
Popular News
 
Total Members : 28,705
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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