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Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
 Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mining, whereby OEG will receive US$8 per tonne on all coal sales at its 51% owned B2 project in East Kalimantan, Indonesia.
- PT Debbia Mining to pay Orpheus US$8 per tonne on all coal sales
- Orpheus not responsible for any capital, operating or marketing expenses
- B2 targeting production of 30,000t per month
- Expected to recommence production in August
After a lengthy assessment on how B2 would optimally resume production, it was determined that the most cost efficient, lowest risk and profitable strategy would be to appoint a competent mining contractor, proficient in thin seam mining, under a royalty payment arrangement. Orpheus is not responsible for any capital, operating or coal marketing expenses under this arrangement.
The mining contractor is currently undertaking some additional pre-drilling to finalise the mine plan and will shortly start mobilizing mining equipment at site. The target production rate is 30,000 tonnes per month (360,000 tonnes per year) and B2 is expected to re-commence production in August.
The current JORC Coal resource at the B2 project of 0.95Mt indicated and 0.18Mt inferred will provide an initial mine life of approximately three years. Exploration programs soon to be undertaken at the adjacent B6 project (an exploration target of 1.5Mt to 2.5Mt and calorific value of 5,950 to 6,850 kcal/kg*) and nearby B34 project (an exploration target of 5Mt to 10Mt and calorific value of 7,200 to 8,100 kcal/kg*), approximately 60 km west, will delineate additional resources to continue mining in this area.
Executive Chairman Wayne Mitchell said, “We are pleased to enter into this agreement with an experienced mining contractor. We can now recommence production at B2, and the royalty arrangement means the company assumes no financial risk with the royalty going straight to Orpheus’ bottom line.”
“This development progresses our Indonesian coal strategy of rapidly ramping up production in Kalimantan. Together with our Kintap ADK project, which is currently producing 50,000 tonnes per month, Orpheus will soon be producing at the rate of 80,000 tonnes per month (net 40,000 tonnes to Orpheus) once B2 resumes mining.
“The next step for us is to bring additional Kintap area satellite mines into production and we look forward to updating shareholders on developments”.
About Orpheus Energy Limited
Orpheus Energy Limited (“OEG”) is a coal company focusing on coal production and exploration in Indonesia. OEG also owns some Australian coal and industrial minerals projects. Orpheus has signed a strategic alliance with PT Mega Coal International (‘Mega’) which is an existing coal producer and exporter. Orpheus is on a fast track to growth, through increasing production at the recently acquired ADK project, moving its B26/34 projects into production, definitive exploration programmes at the Papua project and acquiring near term production assets.
About PT Mega Coal
PT Mega Coal is a privately-held coal mining company with an extensive local network and mining experience in Indonesia. OEG has an existing strategic alliance with PT Mega Coal, notably including its joint ventures for ADK, B26/B34 and Papua. The strategic alliance with PT Mega Coal enables the opportunity for continued additional coal concessions in Indonesia.
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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- CNBM International Corporation - China
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
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