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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- PTC India Limited - India
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- Bulk Trading Sa - Switzerland
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- Metalloyd Limited - United Kingdom
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- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- The University of Queensland
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- Standard Chartered Bank - UAE
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- Agrawal Coal Company - India
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- Directorate Of Revenue Intelligence - India
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- Deloitte Consulting - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
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- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
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- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
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- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Timah Investasi Mineral - Indoneisa
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- Eastern Energy - Thailand
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- Salva Resources Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
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- SN Aboitiz Power Inc, Philippines
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- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
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- Africa Commodities Group - South Africa
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- Star Paper Mills Limited - India
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- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
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- India Bulls Power Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
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- Rio Tinto Coal - Australia
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- Gujarat Mineral Development Corp Ltd - India
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- Planning Commission, India
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- Jorong Barutama Greston.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
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