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