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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
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