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