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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
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- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
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- Interocean Group of Companies - India
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- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
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- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- SMC Global Power, Philippines
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- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
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- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
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- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
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- Bhoruka Overseas - Indonesia
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- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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