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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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- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
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