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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, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- GAC Shipping (India) Pvt Ltd
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
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- Videocon Industries ltd - India
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- Metalloyd Limited - United Kingdom
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- London Commodity Brokers - England
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- Altura Mining Limited, Indonesia
- Minerals Council of Australia
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- New Zealand Coal & Carbon
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- Larsen & Toubro Limited - India
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- Energy Link Ltd, New Zealand
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- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
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- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
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- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
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- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
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- CIMB Investment Bank - Malaysia
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- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
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- Billiton Holdings Pty Ltd - Australia
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- PowerSource Philippines DevCo
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- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
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- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
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- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
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- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
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- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
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- Australian Commodity Traders Exchange
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- Star Paper Mills Limited - India
- Ministry of Mines - Canada
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- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
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