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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
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- Sakthi Sugars Limited - India
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- The Treasury - Australian Government
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- Marubeni Corporation - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
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- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
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- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
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- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
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- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
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- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Aditya Birla Group - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
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