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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, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
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