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Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
 COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Block 2 and Block 6 (B26), back to the company’s Joint Venture partner, PT Mega Coal, for US$2m.
According to company’s ASX release, the sale price represents a ~17 percent profit margin to Orpheus when taking into account the acquisition and development costs of the projects paid by the company to date.
The sale proceeds will significantly strengthen Orpheus’s balance sheet as it moves towards achieving positive cash flow from existing production operations at the Kintap ADK mine. This allows the company’s operational team to more efficiently develop its long-term target area of South Kalimantan in Indonesia.
- B26 project sold at a ~17% profit to JV partner, PT Mega Coal
- Sale significantly strengthens balance sheet
- Enables focus on South Kalimantan projects and
- Strong cash position of over $3m upon receiving funds – well funded to assess acquisition opportunities
The South Kalimantan development program includes increasing production at the Kintap ADK mine, bringing proximal projects into production in the near term, and developing independent infrastructure t o support t he company’s mining operations. Additionally, Orpheus’s geological team will no w be focused on identifying a large exploration target in the South Kalimantan area for resource definition and mining development.
Under the terms of the binding Heads of Agreement, the US$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- VISA Power Limited - India
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