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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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Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
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- India Bulls Power Limited - India
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- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
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- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
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- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
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- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
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- Interocean Group of Companies - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Karbindo Abesyapradhi - Indoneisa
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- Energy Development Corp, Philippines
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- Eastern Energy - Thailand
- Bhatia International Limited - India
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- Australian Commodity Traders Exchange
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- Vedanta Resources Plc - India
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- Rio Tinto Coal - Australia
- GMR Energy Limited - India
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- Parliament of New Zealand
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- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
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- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
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- Georgia Ports Authority, United States
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- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
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- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
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- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
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- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
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- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Electricity Authority, New Zealand
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- Holcim Trading Pte Ltd - Singapore
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- Global Business Power Corporation, Philippines
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- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
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- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Mjunction Services Limited - India
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- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
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- Indogreen Group - Indonesia
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- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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