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