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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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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
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 coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
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