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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Australian Coal Association
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
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