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