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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
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