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, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...


Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...


Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...


Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014. Th ...


Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...


   661 662 663 664 665   
Showing 3311 to 3315 news of total 6871
News by Category
Popular News
 
Total Members : 28,704
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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