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