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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Australian Coal Association
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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