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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
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