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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
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