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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Minerals Council of Australia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
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