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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Romanian Commodities Exchange
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- Trasteel International SA, Italy
- Parliament of New Zealand
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- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Central Electricity Authority - India
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- CNBM International Corporation - China
- Minerals Council of Australia
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- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
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- Ind-Barath Power Infra Limited - India
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- Parry Sugars Refinery, India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
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