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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
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