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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, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
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