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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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Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- London Commodity Brokers - England
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