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