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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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- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
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