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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Indian Energy Exchange, India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
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