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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
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