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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, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Electricity Authority, New Zealand
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- Indian Oil Corporation Limited
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- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
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- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
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- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Directorate General of MIneral and Coal - Indonesia
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- Deloitte Consulting - India
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- Holcim Trading Pte Ltd - Singapore
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- Parliament of New Zealand
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- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
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- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
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- Eastern Energy - Thailand
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- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
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- Ministry of Transport, Egypt
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- Eastern Coal Council - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
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- Bulk Trading Sa - Switzerland
- Australian Coal Association
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- Directorate Of Revenue Intelligence - India
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- India Bulls Power Limited - India
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- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
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- Port Waratah Coal Services - Australia
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- Coal and Oil Company - UAE
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- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
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- Pipit Mutiara Jaya. PT, Indonesia
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- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
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- Economic Council, Georgia
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- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
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- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
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- South Luzon Thermal Energy Corporation
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- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
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- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
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- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
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