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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Planning Commission, India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
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