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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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Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Bulk Trading Sa - Switzerland
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- Tamil Nadu electricity Board
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- PowerSource Philippines DevCo
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- Siam City Cement PLC, Thailand
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- Antam Resourcindo - Indonesia
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- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
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- Australian Coal Association
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- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
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- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
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- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
- The University of Queensland
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- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
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- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
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- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
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- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
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- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
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- Central Electricity Authority - India
- Edison Trading Spa - Italy
- White Energy Company Limited
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- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
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- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
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- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
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