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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
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- London Commodity Brokers - England
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- Miang Besar Coal Terminal - Indonesia
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- Singapore Mercantile Exchange
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- South Luzon Thermal Energy Corporation
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- Tamil Nadu electricity Board
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- Directorate Of Revenue Intelligence - India
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- San Jose City I Power Corp, Philippines
- PTC India Limited - India
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- Xindia Steels Limited - India
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- Petron Corporation, Philippines
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- Posco Energy - South Korea
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- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
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- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
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- GVK Power & Infra Limited - India
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- Georgia Ports Authority, United States
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- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
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- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
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- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
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- Merrill Lynch Commodities Europe
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- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
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- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
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- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
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- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
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- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
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- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
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