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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Parliament of New Zealand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Aditya Birla Group - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
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