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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Posco Energy - South Korea
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- South Luzon Thermal Energy Corporation
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- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
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- Star Paper Mills Limited - India
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- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Energy Development Corp, Philippines
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- Planning Commission, India
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- Africa Commodities Group - South Africa
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- Tamil Nadu electricity Board
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- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
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- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
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- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
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- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
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- Wilmar Investment Holdings
- Parliament of New Zealand
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- Mercator Lines Limited - India
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- White Energy Company Limited
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- Australian Commodity Traders Exchange
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- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- The University of Queensland
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
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- Standard Chartered Bank - UAE
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- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
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- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
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- Ambuja Cements Ltd - India
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