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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Parliament of New Zealand
- Indian Energy Exchange, India
- The University of Queensland
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
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