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Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
 - B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to receive net $US8 per tonne on all coal sales, expected to be US$240,000 per month
- Orpheus not responsible for any capital, operating or marketing expenses
COALspot.com - Orpheus Energy (ASX:OEG) is pleased to advise that its Indonesian mining contractor PT Debbia Mining has successfully completed the removal of overburden and exposed coal at its 51% owned B2 project in East Kalimantan, Indonesia, according to a note released through Six Degrees Investor Relations today.
Coal production will now commence from the new pit, located in the central section of the tenement area, ramping up to 30,000tpm. Coal will be transported by truck to the nearby barge loading facility at Tampang Village, ~ 27 km away from the mine site, comany further said in its note.
Orpheus is not responsible for any capital, operating or coal marketing expenses under the life of mine arrangement with PT Debbia Mining. As previously announced on 2 July 2012, Orpheus will receive a royalty of net US$ 8 per tonne of coal sold, and at the expected production rate this will earn Orpheus US$ 240,000 per month.
The current JORC coal resource at the B2 project of 0.95 Mt indicated and 0.18Mt inferred will provide an initial mine life of approximately three years. The current mine plan allows for PT Debbia Mining to move to the adjacent B6 project (currently contains an exploration target of 1.5 Mt to 2.5 Mt and calorific value of 5,950 to 6,850 kcal/kg*) as B2 coal reserves are depleted.
Orpheus will also commence a JORC drilling program at its nearby B34 project (current exploration target of 5 - 10Mt and calorific value of 7,200 to 8,100 kcal/kg*), in October 2012, approximately 60 km west, which will delineate additional resources to continue mining in this area.
Executive Chairman, Wayne Mitchell said, “ We are very happy with our mining contractor’ s positive progress at B2. Once we reach our 30,000tpm target production rate, the company will be in a cash-flow positive situation, which gives us the flexibility to focus on rapidly developing our other near-term production projects. We look forward to reporting to our shareholders coal sales revenue milestones over the next few months.”
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Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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- Trasteel International SA, Italy
- McConnell Dowell - Australia
- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
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- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bhatia International Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
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- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
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- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
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- Eastern Coal Council - USA
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- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
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- Australian Commodity Traders Exchange
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- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
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- Videocon Industries ltd - India
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- The State Trading Corporation of India Ltd
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- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
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- Petron Corporation, Philippines
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- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
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- Coal and Oil Company - UAE
- PTC India Limited - India
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