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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- The University of Queensland
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
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