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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
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- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
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- Trasteel International SA, Italy
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
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- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
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- SMC Global Power, Philippines
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- Energy Development Corp, Philippines
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- Ministry of Mines - Canada
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- Toyota Tsusho Corporation, Japan
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- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
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- Energy Link Ltd, New Zealand
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- Mercuria Energy - Indonesia
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- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
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- Wood Mackenzie - Singapore
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- Intertek Mineral Services - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
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- PTC India Limited - India
- Ministry of Transport, Egypt
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- Tamil Nadu electricity Board
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- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
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- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
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- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
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- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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- Sojitz Corporation - Japan
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