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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
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- Thai Mozambique Logistica
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- Kumho Petrochemical, South Korea
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- Agrawal Coal Company - India
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- Trasteel International SA, Italy
- Goldman Sachs - Singapore
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- White Energy Company Limited
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- Kideco Jaya Agung - Indonesia
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- Anglo American - United Kingdom
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
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- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
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- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
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- Bhatia International Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
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- Price Waterhouse Coopers - Russia
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- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
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- Karbindo Abesyapradhi - Indoneisa
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- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
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- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
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- Ambuja Cements Ltd - India
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- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
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- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
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- Economic Council, Georgia
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