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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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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Planning Commission, India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
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