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