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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
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