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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
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