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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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