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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Global Business Power Corporation, Philippines
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- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
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- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
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- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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