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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- VISA Power Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
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