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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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Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Australian Coal Association
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
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