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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Planning Commission, India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
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