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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
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- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
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- Wood Mackenzie - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
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- Neyveli Lignite Corporation Ltd, - India
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- Baramulti Group, Indonesia
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- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
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- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
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- Independent Power Producers Association of India
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- Formosa Plastics Group - Taiwan
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- The Treasury - Australian Government
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- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Parliament of New Zealand
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- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
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- Indogreen Group - Indonesia
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- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
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