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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, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
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