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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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Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
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