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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Planning Commission, India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
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