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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Planning Commission, India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- The University of Queensland
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
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