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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Ministry of Mines - Canada
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- Billiton Holdings Pty Ltd - Australia
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- Ministry of Transport, Egypt
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- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
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- Manunggal Multi Energi - Indonesia
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- Deloitte Consulting - India
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- Indian Energy Exchange, India
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- Ministry of Finance - Indonesia
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- Goldman Sachs - Singapore
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- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
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- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
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- Romanian Commodities Exchange
- Australian Coal Association
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
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- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
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