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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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Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Karaikal Port Pvt Ltd - India
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- Mjunction Services Limited - India
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- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
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- Orica Mining Services - Indonesia
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- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
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- Indian Oil Corporation Limited
- Eastern Coal Council - USA
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- Commonwealth Bank - Australia
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- Wilmar Investment Holdings
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- Renaissance Capital - South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
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- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
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- Maheswari Brothers Coal Limited - India
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- Planning Commission, India
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- Marubeni Corporation - India
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- Singapore Mercantile Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
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- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
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- Indonesian Coal Mining Association
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- Merrill Lynch Commodities Europe
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- Petron Corporation, Philippines
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- Aboitiz Power Corporation - Philippines
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- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
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- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
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- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
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- Global Business Power Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
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- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
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- Neyveli Lignite Corporation Ltd, - India
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- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
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- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
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- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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