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