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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
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- SMG Consultants - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
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- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
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- Bhatia International Limited - India
- Latin American Coal - Colombia
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- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
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- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
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- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
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