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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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Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
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- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
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