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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Australian Commodity Traders Exchange
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- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
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- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
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- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
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- Wood Mackenzie - Singapore
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- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
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- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
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- Jorong Barutama Greston.PT - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
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- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
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- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
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- Indian Energy Exchange, India
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- The University of Queensland
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- Dalmia Cement Bharat India
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- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
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- Planning Commission, India
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- Ceylon Electricity Board - Sri Lanka
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