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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
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