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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
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