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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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