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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, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
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- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
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- Australian Commodity Traders Exchange
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- Eastern Energy - Thailand
- Coal and Oil Company - UAE
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- Planning Commission, India
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- Global Coal Blending Company Limited - Australia
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- Meralco Power Generation, Philippines
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- London Commodity Brokers - England
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- Chamber of Mines of South Africa
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- GAC Shipping (India) Pvt Ltd
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- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
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- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
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- Indian Energy Exchange, India
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- Wood Mackenzie - Singapore
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- SMC Global Power, Philippines
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- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Deloitte Consulting - India
- Thiess Contractors Indonesia
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- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
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- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
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- Price Waterhouse Coopers - Russia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
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- Sakthi Sugars Limited - India
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- The Treasury - Australian Government
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- Posco Energy - South Korea
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- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
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- Eastern Coal Council - USA
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- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
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- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
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- Heidelberg Cement - Germany
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- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
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- TNB Fuel Sdn Bhd - Malaysia
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