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