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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, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
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- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- The University of Queensland
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
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