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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
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RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
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