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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
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