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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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
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