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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, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
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