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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
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