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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
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