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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
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