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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
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