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