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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Planning Commission, India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
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