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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
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