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