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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Parliament of New Zealand
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
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