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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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Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
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