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