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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
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