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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, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Chamber of Mines of South Africa
- Australian Coal Association
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
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