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