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