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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$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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Showing 4426 to 4430 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
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