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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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
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