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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
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