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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- The Treasury - Australian Government
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- Cigading International Bulk Terminal - Indonesia
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- Bangladesh Power Developement Board
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- McConnell Dowell - Australia
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- Planning Commission, India
- Edison Trading Spa - Italy
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- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
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- PTC India Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
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- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
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- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
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- Indika Energy - Indonesia
- Latin American Coal - Colombia
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- The University of Queensland
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
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- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
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- The State Trading Corporation of India Ltd
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- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
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- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
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