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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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Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
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- New Zealand Coal & Carbon
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- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Banpu Public Company Limited - Thailand
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- India Bulls Power Limited - India
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- Mjunction Services Limited - India
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- SMC Global Power, Philippines
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- Maheswari Brothers Coal Limited - India
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- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
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- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
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- Planning Commission, India
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- Thai Mozambique Logistica
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- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
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- Wilmar Investment Holdings
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- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
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- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
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- Heidelberg Cement - Germany
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- Timah Investasi Mineral - Indoneisa
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- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
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- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Australian Coal Association
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
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