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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
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