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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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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Gujarat Mineral Development Corp Ltd - India
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- Samtan Co., Ltd - South Korea
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- Indian Energy Exchange, India
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- IEA Clean Coal Centre - UK
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- Eastern Coal Council - USA
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- Kapuas Tunggal Persada - Indonesia
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- Coal and Oil Company - UAE
- Economic Council, Georgia
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- Directorate General of MIneral and Coal - Indonesia
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- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
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- Karbindo Abesyapradhi - Indoneisa
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- Latin American Coal - Colombia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
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- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
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- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
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- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
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- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
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- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
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- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
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- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
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- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
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- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
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- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
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- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
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- Star Paper Mills Limited - India
- Petron Corporation, Philippines
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- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
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- McConnell Dowell - Australia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
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- Sindya Power Generating Company Private Ltd
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- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
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