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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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Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Planning Commission, India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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