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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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Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
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