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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
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