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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
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