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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- White Energy Company Limited
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
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