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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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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
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