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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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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
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