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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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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- McConnell Dowell - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Independent Power Producers Association of India
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