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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Australian Coal Association
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
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