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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
 COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement with a coal production license in the South Kalimantan province of Indonesia under its JV agreement with strategic alliance partner PT Mega Coal International.
According to Orpheus Energy's announcement, it has secured a 50% equity ownership in an additional tenement with a coal production Licence in South Kalimantan Province – Tanah Laut Regent Decree No. 545/06/IUP.OP/DPE/2011 - under its joint venture agreement with strategic alliance partner PT Mega Coal International (“Mega”). All legal due diligence has been successfully completed.
- Heads of Agreement (“HOA”) signed with PT Citra Bara Prima (“CBP”) over a ~195 hectare coal production project in South Kalimantan
- Located adjacent to one of PT Arutmin’s major operating coal mines and approximately 10km from Orpheus’ Kintap ADK project
- Exploration target of 2Mt – 4.5Mt with a drilling program planned to commence by end September to establish a JORC resource
- Mining planned to commence by end October using nearby existing infrastructure.
The CBP tenement covers an area of approximately 195 hectares, and has been previously mined and drilled. Orpheus’ technical team has conducted desktop analysis on earlier exploration results, identifying a minimum of two coal seams varying in thickness from 4 to 12 metres, near surface.
Orpheus currently has an exploration target of 2.0Mt to 4.5Mt and has planned a 12 hole drilling program, each to a total depth of 100m, to delineate a JORC resource, expected to commence by end September 2012.
The CBP project is located approximately 10km south-west of Orpheus’ ADK project and is close to the river side barge loading facility at SKJM, located less than 5km away.
During the upcoming CBP drilling program, Orpheus will be developing its preliminary mine plan so that the project can rapidly move into production, planned to be by end October 2012. At this stage, it is anticipated that the CBP project will be mined at a rate of 50,000tpm, when in steady-state production.
According to companies press release, the HOA provides that Orpheus pays a purchase price of US$ 0.50 per tonne of JORC black coal resource. This is payable to PT Mega Coal in the following structure:
Stage 1: ~US$200,000 as a deposit prior to the establishment of a JORC resource;
Stage 2: On completion of Orpheus’ successful drilling program generating a JORC resource, Orpheus will pay Mega US$0.50 per tonne in cash, scrip or combination of both, at Orpheus’ election.
Executive Chairman Wayne Mitchell said, “The CBP transaction is very important for Orpheus as it is the next step in our strategy of bringing additional Kintap area satellite mines into production. CBP already has a production license, which means we can quickly start mining and exporting coal. In addition to our coal already coming out of ADK, Orpheus will soon be mining 100,000tpm from the South Kalimantan area.”
Orpheus and Mega Coal will now move to execute a Joint Venture Agreement over the CBP project.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
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- ASAPP Information Group - India
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- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
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- Eastern Coal Council - USA
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- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
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- Australian Coal Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Eastern Energy - Thailand
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- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
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- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
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- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- White Energy Company Limited
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- Ind-Barath Power Infra Limited - India
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- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
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- Power Finance Corporation Ltd., India
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- Bangladesh Power Developement Board
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- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
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- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
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