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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, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
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