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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
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