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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
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