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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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Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
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