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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- The University of Queensland
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
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