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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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- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
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- Pendopo Energi Batubara - Indonesia
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- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
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- Star Paper Mills Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
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- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Eastern Coal Council - USA
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- Latin American Coal - Colombia
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- Tata Chemicals Ltd - India
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- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
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- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
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- Mercator Lines Limited - India
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- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Minerals Council of Australia
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- Planning Commission, India
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- Petron Corporation, Philippines
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- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
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- Indonesian Coal Mining Association
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- Energy Link Ltd, New Zealand
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- Krishnapatnam Port Company Ltd. - India
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- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
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- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
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- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
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- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
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- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
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