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Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
 COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silangkop Nusa Raya (SNR), which holds three exploration licenses in West Kalimantan near the Malaysian border (SNR Licences). The SNR Licenses cover an area of approximately 13,000 hectares, according to the company 's statement posted on company's website.
Cokal’s Executive Chairman, Peter Lynch said “that while recent exploratory work for metallurgical coal in the area was limited, surface samples of coal from surrounding areas had shown good coking coal properties and I am excited by the possibility of opening up a new area”. The table below shows the analytical results of surfaces samples taken from weathered outcropping coal seams from areas surrounding the SNR License area that are believed to continue into the SNR License area.
While little work has been done recently, earlier work in the area identified potential coking coal in the region. A review of the geological records of the area found that work done by a major Japanese coal company had identified coking coal bearing formations close to the western border of the SNR Licenses.
CEO, Mr James Middleton, said that the company intends to start a greenfield exploration programme in West Kalimantan to further determine the potential of the region. Cokal believes that the SNR properties are strategically placed within the region and have the potential to yield high value coking coal.
The final administrative details associated with the proposed acquisition are expected to be finalized in the June quarter of 2012 with initial mapping and preliminary geological work to start shortly after. As this is in effect a greenfield exploration programme, significant base line exploration (scout work and mapping) and approvals will be required before moving into drilling and subsequent phases of exploration. The acquisition cost is A$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
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