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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- VISA Power Limited - India
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- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
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- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
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- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
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