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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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Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Goldman Sachs - Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- MS Steel International - UAE
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
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