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