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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Australian Coal Association
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
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