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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, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Planning Commission, India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
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