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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Thai Mozambique Logistica
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
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