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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
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- Metalloyd Limited - United Kingdom
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- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
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- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
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- Leighton Contractors Pty Ltd - Australia
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- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
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- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
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- Central Electricity Authority - India
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- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
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- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
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- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
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- Miang Besar Coal Terminal - Indonesia
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- Parry Sugars Refinery, India
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- Deloitte Consulting - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
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- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
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- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
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- Africa Commodities Group - South Africa
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- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
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- The Treasury - Australian Government
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- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Planning Commission, India
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