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Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
 Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coal-fired power stations in the regency of Murung Raya, Central Kalimantan in Indonesia.
Cokal chairman Peter Lynch said the company has signed two MoU’s with the Murung Raya Regency and was aiming to be exporting coal from the region by mid-2013. Detailed Agreements arising from these MoU’s are currently being finalised.
Cokal Managing Director & CEO Jim Middleton and Director Domenic Martino attended a signing ceremony with the Head of the Murung Regency Government, Bp Willy Yoseph, in the capital, Puruk Cahu (along with the Head of the Local House of Representatives). Mr Willy Yoseph commented that he was very happy to have Cokal, with its experience and skills, committed to working with the Regency to develop infrastructure to mutual benefit.
Cokal has previously confirmed high quality premium metallurgical coal at its 60% owned Bumi Barito Mineral (BBM) project in Central Kalimantan. Cokal announced a maiden Inferred Resource of 60Mt of Metallurgical Coal, comprising 60% coking and 40% PCI, in December 2011. The Inferred Resource covered 8% of BBM’s 19,920 ha, which is located immediately adjacent to BHPBilliton’s Juloi tenement.
Mr Lynch said Cokal’s first MoU with the regency was to develop two river ports for coal stockpiling and barge loading on the Barito River to service the needs of BBM as well as other future Cokal projects in the regency.
He said the second MoU is for the potential development of two small scale coal-fired power stations (5 -10MW) in the regency. This could service the needs of proposed Cokal mines in the area, as well as providing benefits to the local community.
Mr Middleton announced that the Regency Government’s Development Corporation would be a joint venture partner with Cokal, and is committed to provide assistance for this infrastructure development.
“This co-operation and assistance will help us to quickly move into the production phase. The Regency Government is enthusiastic about the mine development as it brings jobs, education and prosperity to the region. “Cokal has committed to a high level of community engagement through an effective community social responsibility program focused on education and training, employment and local infrastructure development.
Mr Middleton said concept studies for the port infrastructure and power stations will commence immediately, funded by Cokal. “Subject to a positive outcome of the studies, Cokal will be examining a range of options whereby this vital infrastructure may be project financed,” he said.
Kalimantan is located favourably in a geographic sense, being on the doorstep of the world’s biggest and strongest growing markets.
Mr Lynch commented that the MoU’s and the corresponding planned Agreements, are part of expediting planned metallurgical coal production in this high quality coal basin, while providing significant benefits to the local community.
Source: Cokal website
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 Tanoz Resources to explore for coal in Tanzania and a co-operation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
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- The University of Queensland
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- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
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- South Luzon Thermal Energy Corporation
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- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
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- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Australian Coal Association
- Indian Oil Corporation Limited
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
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- Planning Commission, India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
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- Simpson Spence & Young - Indonesia
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- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
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- London Commodity Brokers - England
- Aditya Birla Group - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
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- Chamber of Mines of South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
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- Intertek Mineral Services - Indonesia
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- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
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- GAC Shipping (India) Pvt Ltd
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- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
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- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Thiess Contractors Indonesia
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- SMC Global Power, Philippines
- Posco Energy - South Korea
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- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
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- Siam City Cement - Thailand
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
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- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
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- Coal and Oil Company - UAE
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