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