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