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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, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Thai Mozambique Logistica
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- Indian Oil Corporation Limited
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- Bhushan Steel Limited - India
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- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
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- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
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- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
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- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
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