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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
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