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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- MS Steel International - UAE
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- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
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- Kapuas Tunggal Persada - Indonesia
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- Heidelberg Cement - Germany
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Australian Coal Association
- Therma Luzon, Inc, Philippines
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- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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- Rashtriya Ispat Nigam Limited - India
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- Baramulti Group, Indonesia
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- Bulk Trading Sa - Switzerland
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- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
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- Agrawal Coal Company - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
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- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Orica Australia Pty. Ltd.
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- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
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- Electricity Authority, New Zealand
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- Bayan Resources Tbk. - Indonesia
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- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
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