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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Australian Coal Association
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
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