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Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to receive net $US8 per tonne on all coal sales, expected to be US$240,000 per month
- Orpheus not responsible for any capital, operating or marketing expenses
COALspot.com - Orpheus Energy (ASX:OEG) is pleased to advise that its Indonesian mining contractor PT Debbia Mining has successfully completed the removal of overburden and exposed coal at its 51% owned B2 project in East Kalimantan, Indonesia, according to a note released through Six Degrees Investor Relations today.
Coal production will now commence from the new pit, located in the central section of the tenement area, ramping up to 30,000tpm. Coal will be transported by truck to the nearby barge loading facility at Tampang Village, ~ 27 km away from the mine site, comany further said in its note.
Orpheus is not responsible for any capital, operating or coal marketing expenses under the life of mine arrangement with PT Debbia Mining. As previously announced on 2 July 2012, Orpheus will receive a royalty of net US$ 8 per tonne of coal sold, and at the expected production rate this will earn Orpheus US$ 240,000 per month.
The current JORC coal resource at the B2 project of 0.95 Mt indicated and 0.18Mt inferred will provide an initial mine life of approximately three years. The current mine plan allows for PT Debbia Mining to move to the adjacent B6 project (currently contains an exploration target of 1.5 Mt to 2.5 Mt and calorific value of 5,950 to 6,850 kcal/kg*) as B2 coal reserves are depleted.
Orpheus will also commence a JORC drilling program at its nearby B34 project (current exploration target of 5 - 10Mt and calorific value of 7,200 to 8,100 kcal/kg*), in October 2012, approximately 60 km west, which will delineate additional resources to continue mining in this area.
Executive Chairman, Wayne Mitchell said, “ We are very happy with our mining contractor’ s positive progress at B2. Once we reach our 30,000tpm target production rate, the company will be in a cash-flow positive situation, which gives us the flexibility to focus on rapidly developing our other near-term production projects. We look forward to reporting to our shareholders coal sales revenue milestones over the next few months.”
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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Star Paper Mills Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
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- Power Finance Corporation Ltd., India
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- Petron Corporation, Philippines
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- Merrill Lynch Commodities Europe
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- Coal and Oil Company - UAE
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- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Kapuas Tunggal Persada - Indonesia
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- ICICI Bank Limited - India
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- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
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- MS Steel International - UAE
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- Indonesian Coal Mining Association
- Ministry of Mines - Canada
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- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
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- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
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- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
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- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
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- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
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- Heidelberg Cement - Germany
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- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
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- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
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- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
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- Malabar Cements Ltd - India
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- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
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- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
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- Thai Mozambique Logistica
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- Jaiprakash Power Ventures ltd
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- Electricity Authority, New Zealand
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- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Ambuja Cements Ltd - India
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- Simpson Spence & Young - Indonesia
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