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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, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
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