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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
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