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