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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, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
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