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