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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
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- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
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- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
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- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
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- Energy Development Corp, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Wood Mackenzie - Singapore
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- The University of Queensland
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- OPG Power Generation Pvt Ltd - India
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- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
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- Merrill Lynch Commodities Europe
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- Thiess Contractors Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
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- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
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- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
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- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
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- Simpson Spence & Young - Indonesia
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- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
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- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
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- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
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