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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
 COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement with a coal production license in the South Kalimantan province of Indonesia under its JV agreement with strategic alliance partner PT Mega Coal International.
According to Orpheus Energy's announcement, it has secured a 50% equity ownership in an additional tenement with a coal production Licence in South Kalimantan Province – Tanah Laut Regent Decree No. 545/06/IUP.OP/DPE/2011 - under its joint venture agreement with strategic alliance partner PT Mega Coal International (“Mega”). All legal due diligence has been successfully completed.
- Heads of Agreement (“HOA”) signed with PT Citra Bara Prima (“CBP”) over a ~195 hectare coal production project in South Kalimantan
- Located adjacent to one of PT Arutmin’s major operating coal mines and approximately 10km from Orpheus’ Kintap ADK project
- Exploration target of 2Mt – 4.5Mt with a drilling program planned to commence by end September to establish a JORC resource
- Mining planned to commence by end October using nearby existing infrastructure.
The CBP tenement covers an area of approximately 195 hectares, and has been previously mined and drilled. Orpheus’ technical team has conducted desktop analysis on earlier exploration results, identifying a minimum of two coal seams varying in thickness from 4 to 12 metres, near surface.
Orpheus currently has an exploration target of 2.0Mt to 4.5Mt and has planned a 12 hole drilling program, each to a total depth of 100m, to delineate a JORC resource, expected to commence by end September 2012.
The CBP project is located approximately 10km south-west of Orpheus’ ADK project and is close to the river side barge loading facility at SKJM, located less than 5km away.
During the upcoming CBP drilling program, Orpheus will be developing its preliminary mine plan so that the project can rapidly move into production, planned to be by end October 2012. At this stage, it is anticipated that the CBP project will be mined at a rate of 50,000tpm, when in steady-state production.
According to companies press release, the HOA provides that Orpheus pays a purchase price of US$ 0.50 per tonne of JORC black coal resource. This is payable to PT Mega Coal in the following structure:
Stage 1: ~US$200,000 as a deposit prior to the establishment of a JORC resource;
Stage 2: On completion of Orpheus’ successful drilling program generating a JORC resource, Orpheus will pay Mega US$0.50 per tonne in cash, scrip or combination of both, at Orpheus’ election.
Executive Chairman Wayne Mitchell said, “The CBP transaction is very important for Orpheus as it is the next step in our strategy of bringing additional Kintap area satellite mines into production. CBP already has a production license, which means we can quickly start mining and exporting coal. In addition to our coal already coming out of ADK, Orpheus will soon be mining 100,000tpm from the South Kalimantan area.”
Orpheus and Mega Coal will now move to execute a Joint Venture Agreement over the CBP project.
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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
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- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Agrawal Coal Company - India
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