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