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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
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