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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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Videocon Industries ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
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