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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- MS Steel International - UAE
- The University of Queensland
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
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