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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Eastern Energy - Thailand
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
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