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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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Planning Commission, India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- The University of Queensland
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
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