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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Planning Commission, India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
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