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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
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Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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