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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Planning Commission, India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
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