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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
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