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