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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
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