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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Thursday, 22 February 24
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Monday, 19 February 24
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- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- White Energy Company Limited
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
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