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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, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
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Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
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