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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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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
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