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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
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