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