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