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