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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
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