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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
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