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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, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
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