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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$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
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- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
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