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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, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
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