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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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