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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$722,000 cash. Under the agreement, Cokal has acquired 75.2% of the equity of PT Silangkop Nusa Raya, the Indonesian Company owning the exploration licenses. Local Indonesian partners will hold the balance of the equity in PT Silangkop Nusa Raya. Cokal's local Indonesian partners have an option to finance their share of the project exploration and development costs through a loan from Cokal, at commercial interest rates, repayable out of their share of the future profits of PT Silangkop Nusa Raya.
The proposed acquisition has received Indonesian regulatory approval and PT Silangkop Nusa Raya has been converted to a PMA Company. Under Indonesian law a PMA Company is able to have up to 100% foreign ownership.
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal. Cokal has also signed a joint venture with Tanzoz Resources to explore for coal in Tanzania and a cooperation agreement with Mozambique Government Mining Corporation, EMEM, to explore for coking coal in the emerging coal province of Mozambique.
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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
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