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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
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