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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 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
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