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 ...

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