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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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Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
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- Cigading International Bulk Terminal - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
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- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
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- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
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- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Minerals Council of Australia
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- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
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- Bulk Trading Sa - Switzerland
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- Tamil Nadu electricity Board
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- Sical Logistics Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
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- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
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- Jaiprakash Power Ventures ltd
- The University of Queensland
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- Indonesian Coal Mining Association
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- Bangladesh Power Developement Board
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- Australian Coal Association
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- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
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