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