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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Planning Commission, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
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