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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Economic Council, Georgia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
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