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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
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