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