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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
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- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
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- Formosa Plastics Group - Taiwan
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- Medco Energi Mining Internasional
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- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
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