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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
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