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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Economic Council, Georgia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
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