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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, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Minerals Council of Australia
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- Price Waterhouse Coopers - Russia
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- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
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- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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- Alfred C Toepfer International GmbH - Germany
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- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
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- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
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- San Jose City I Power Corp, Philippines
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- Tata Chemicals Ltd - India
- MS Steel International - UAE
- The University of Queensland
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- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
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- Directorate Of Revenue Intelligence - India
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- Kaltim Prima Coal - Indonesia
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- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
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- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
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- Star Paper Mills Limited - India
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- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
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- Wood Mackenzie - Singapore
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- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
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- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
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- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
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- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
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- Meralco Power Generation, Philippines
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- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
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- Sindya Power Generating Company Private Ltd
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- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
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- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
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