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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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- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
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