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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Indonesian Coal Mining Association
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- Renaissance Capital - South Africa
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- San Jose City I Power Corp, Philippines
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- Siam City Cement - Thailand
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- Ministry of Mines - Canada
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- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- The State Trading Corporation of India Ltd
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- Posco Energy - South Korea
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- Bulk Trading Sa - Switzerland
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- Eastern Coal Council - USA
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- Global Coal Blending Company Limited - Australia
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- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
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- Bhushan Steel Limited - India
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- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- CNBM International Corporation - China
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- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
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- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
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- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Standard Chartered Bank - UAE
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- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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- Ministry of Transport, Egypt
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- Africa Commodities Group - South Africa
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- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
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- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- New Zealand Coal & Carbon
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Planning Commission, India
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- Rio Tinto Coal - Australia
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- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
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- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
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- Tamil Nadu electricity Board
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