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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Australian Coal Association
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
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