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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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Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
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- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
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