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