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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Planning Commission, India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
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