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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, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
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