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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$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- SMG Consultants - Indonesia
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