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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
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