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