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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
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