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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Indian Oil Corporation Limited
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- The Treasury - Australian Government
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- Bharathi Cement Corporation - India
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- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
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- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Posco Energy - South Korea
- Standard Chartered Bank - UAE
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- Dalmia Cement Bharat India
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- Electricity Authority, New Zealand
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- Parliament of New Zealand
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- Eastern Energy - Thailand
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- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- The University of Queensland
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
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- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
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- Australian Coal Association
- Toyota Tsusho Corporation, Japan
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- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
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