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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
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- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Australian Coal Association
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- The University of Queensland
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
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