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Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
 Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mining, whereby OEG will receive US$8 per tonne on all coal sales at its 51% owned B2 project in East Kalimantan, Indonesia.
- PT Debbia Mining to pay Orpheus US$8 per tonne on all coal sales
- Orpheus not responsible for any capital, operating or marketing expenses
- B2 targeting production of 30,000t per month
- Expected to recommence production in August
After a lengthy assessment on how B2 would optimally resume production, it was determined that the most cost efficient, lowest risk and profitable strategy would be to appoint a competent mining contractor, proficient in thin seam mining, under a royalty payment arrangement. Orpheus is not responsible for any capital, operating or coal marketing expenses under this arrangement.
The mining contractor is currently undertaking some additional pre-drilling to finalise the mine plan and will shortly start mobilizing mining equipment at site. The target production rate is 30,000 tonnes per month (360,000 tonnes per year) and B2 is expected to re-commence production in August.
The current JORC Coal resource at the B2 project of 0.95Mt indicated and 0.18Mt inferred will provide an initial mine life of approximately three years. Exploration programs soon to be undertaken at the adjacent B6 project (an exploration target of 1.5Mt to 2.5Mt and calorific value of 5,950 to 6,850 kcal/kg*) and nearby B34 project (an exploration target of 5Mt to 10Mt and calorific value of 7,200 to 8,100 kcal/kg*), approximately 60 km west, will delineate additional resources to continue mining in this area.
Executive Chairman Wayne Mitchell said, “We are pleased to enter into this agreement with an experienced mining contractor. We can now recommence production at B2, and the royalty arrangement means the company assumes no financial risk with the royalty going straight to Orpheus’ bottom line.”
“This development progresses our Indonesian coal strategy of rapidly ramping up production in Kalimantan. Together with our Kintap ADK project, which is currently producing 50,000 tonnes per month, Orpheus will soon be producing at the rate of 80,000 tonnes per month (net 40,000 tonnes to Orpheus) once B2 resumes mining.
“The next step for us is to bring additional Kintap area satellite mines into production and we look forward to updating shareholders on developments”.
About Orpheus Energy Limited
Orpheus Energy Limited (“OEG”) is a coal company focusing on coal production and exploration in Indonesia. OEG also owns some Australian coal and industrial minerals projects. Orpheus has signed a strategic alliance with PT Mega Coal International (‘Mega’) which is an existing coal producer and exporter. Orpheus is on a fast track to growth, through increasing production at the recently acquired ADK project, moving its B26/34 projects into production, definitive exploration programmes at the Papua project and acquiring near term production assets.
About PT Mega Coal
PT Mega Coal is a privately-held coal mining company with an extensive local network and mining experience in Indonesia. OEG has an existing strategic alliance with PT Mega Coal, notably including its joint ventures for ADK, B26/B34 and Papua. The strategic alliance with PT Mega Coal enables the opportunity for continued additional coal concessions in Indonesia.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
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Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
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Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
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Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
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Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
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