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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, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- The University of Queensland
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
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