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