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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
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