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