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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
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- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
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