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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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Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
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