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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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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
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