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