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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Economic Council, Georgia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
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