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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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Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
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- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
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