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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
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