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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
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- San Jose City I Power Corp, Philippines
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- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
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- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
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- Coal and Oil Company - UAE
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- Romanian Commodities Exchange
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- Australian Commodity Traders Exchange
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- Indian Energy Exchange, India
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- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Ministry of Transport, Egypt
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- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
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- Central Electricity Authority - India
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- Rashtriya Ispat Nigam Limited - India
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- Global Business Power Corporation, Philippines
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- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
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- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- New Zealand Coal & Carbon
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- Mintek Dendrill Indonesia
- Planning Commission, India
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- Economic Council, Georgia
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- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
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