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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Australian Coal Association
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
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