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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
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