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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
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