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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
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