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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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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
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