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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- McConnell Dowell - Australia
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- Ministry of Mines - Canada
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- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
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- Independent Power Producers Association of India
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- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
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- The State Trading Corporation of India Ltd
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- Minerals Council of Australia
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- Indian Energy Exchange, India
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- Global Coal Blending Company Limited - Australia
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- Energy Development Corp, Philippines
- Romanian Commodities Exchange
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- Metalloyd Limited - United Kingdom
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- Indonesian Coal Mining Association
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- Malabar Cements Ltd - India
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- Antam Resourcindo - Indonesia
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- Planning Commission, India
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- Global Green Power PLC Corporation, Philippines
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- Dalmia Cement Bharat India
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- Coalindo Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Eastern Coal Council - USA
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- Economic Council, Georgia
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- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
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- India Bulls Power Limited - India
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
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- The University of Queensland
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- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
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- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
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- Wilmar Investment Holdings
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- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
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