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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
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