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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
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