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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
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