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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Power Finance Corporation Ltd., India
- Planning Commission, India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
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