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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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- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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