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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
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