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