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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Tata Chemicals Ltd - India
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- Petron Corporation, Philippines
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- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Latin American Coal - Colombia
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- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
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- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
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