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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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Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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