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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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- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
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- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
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- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
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- IEA Clean Coal Centre - UK
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
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- Metalloyd Limited - United Kingdom
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- Carbofer General Trading SA - India
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- Sical Logistics Limited - India
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
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- SN Aboitiz Power Inc, Philippines
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- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
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- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
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- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
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- Kaltim Prima Coal - Indonesia
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- Power Finance Corporation Ltd., India
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- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
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- Wilmar Investment Holdings
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- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
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- London Commodity Brokers - England
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- Eastern Coal Council - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
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- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- The Treasury - Australian Government
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- CNBM International Corporation - China
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
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- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
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- Antam Resourcindo - Indonesia
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- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- ASAPP Information Group - India
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- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Australian Coal Association
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
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- The University of Queensland
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