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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, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
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