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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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Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
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