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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Planning Commission, India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
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