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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
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