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Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
 COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in East Kalimantan. The IUP permit has been granted for an area 2,960 hectares on Challenger’s 100% owned Tabang project.
Challenger is an exploration company from Canada that focused on the Indonesian coal industry. Challenger’s business plan is to acquire, explore, and to bring its viable coal projects into production. Challenger offices’ is Calgary, Singapore, and Jakarta. This company listed on Toronto Stock Exchange.
“We are, of course, very pleased to receive the IUP Permit for this property,” Ranjeet Sundher, President of Challenger says. “One of our key strengths is our ability to identify, acquire, and manage the regulatory process related to our exploration projects,” he added via press release.
The Tabang Project area covers both the Batuayau and Ujoh Bilang geological formations. The typical coal quality of the Ujoh Bilang and Batuayau formations from producing coal mines in the region is CV 5,500-6,000 kcal/kg (ADB) with coal seam thicknesses varying from 0.5-6 meters.
This permit gives the rights to the holder to carry out full coal exploration activities within the concession area for a period of three years until May 13, 2014, which may be extended if required. This permit also gives the rights to obtain coal exploitation license (IUP Operation-Production) if the prospects proved to be economical for commercial production.
On approval of a mine feasibility study, the Challenger will be able to transition the IUP into the exploitation stage under an IUP Operation-Production, with the right to conduct mining production on this property for 20 years, with the potential for two further ten-year extension periods.
Challenger’s work on the Tabang project to date has confirmed the presence of at least seven flat-dipping seams of CVC (adb) 5,500-6,500 kcal/kg coal. All of the coal seams discovered to date are located on the northern half of the property.
Challenger’s exploration team is currently conducting more extensive surface exploration of the southern half of the property. Challenger’s initial reconnaissance drilling program confirmed coal quality and the coal seam orientation and consistency on the Tabang program with 14 shallow holes (25-50 metres) for a total of 521 metres of drilling.
Challenger has now commenced a more extensive exploration drilling program of the previously discovered multiple coal seams upon the issuance of this IUP. Challenger plans to conduct an environmental assessment and a pre-feasibility study later this year as part of the prerequisites for the application to obtain the IUP Operation-Production (coal mining production) license.
To contact the reporter on this story: Efendi at efendi@coalspot.com
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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