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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, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The University of Queensland
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
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