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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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- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Planning Commission, India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
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