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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- The University of Queensland
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
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