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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, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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