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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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Minerals Council of Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- The University of Queensland
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