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