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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Mercuria Energy - Indonesia
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- Commonwealth Bank - Australia
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- Central Electricity Authority - India
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- MS Steel International - UAE
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- Sojitz Corporation - Japan
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- Petrochimia International Co. Ltd.- Taiwan
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- IHS Mccloskey Coal Group - USA
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- The University of Queensland
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- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
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- International Coal Ventures Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
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- London Commodity Brokers - England
- Planning Commission, India
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- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
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- Electricity Authority, New Zealand
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- Medco Energi Mining Internasional
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- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
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- Borneo Indobara - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
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- Makarim & Taira - Indonesia
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- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
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- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
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- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
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- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
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