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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
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- Australian Coal Association
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- White Energy Company Limited
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- VISA Power Limited - India
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