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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, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
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