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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, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
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