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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
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- Renaissance Capital - South Africa
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- Energy Development Corp, Philippines
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- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
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- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
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- Ceylon Electricity Board - Sri Lanka
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- Parliament of New Zealand
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- SMC Global Power, Philippines
- Sojitz Corporation - Japan
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- Directorate Of Revenue Intelligence - India
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- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
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- Heidelberg Cement - Germany
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- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Economic Council, Georgia
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- India Bulls Power Limited - India
- The University of Queensland
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- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- New Zealand Coal & Carbon
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- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
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- Cigading International Bulk Terminal - Indonesia
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- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
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- Electricity Authority, New Zealand
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- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
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- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- Sarangani Energy Corporation, Philippines
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- Ministry of Mines - Canada
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
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- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
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- CNBM International Corporation - China
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- The State Trading Corporation of India Ltd
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- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
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