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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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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
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