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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Australian Coal Association
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
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