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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Mjunction Services Limited - India
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- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
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- Australian Coal Association
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- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
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- Heidelberg Cement - Germany
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- Energy Development Corp, Philippines
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- The Treasury - Australian Government
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- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
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- TeaM Sual Corporation - Philippines
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- Baramulti Group, Indonesia
- The University of Queensland
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- Eastern Coal Council - USA
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- Trasteel International SA, Italy
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- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
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- Minerals Council of Australia
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- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
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- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
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- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- MS Steel International - UAE
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- Therma Luzon, Inc, Philippines
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- Directorate Of Revenue Intelligence - India
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- Electricity Generating Authority of Thailand
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- San Jose City I Power Corp, Philippines
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