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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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