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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, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Central Java Power - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
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