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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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Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
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