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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, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
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