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Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
 COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Block 2 and Block 6 (B26), back to the company’s Joint Venture partner, PT Mega Coal, for US$2m.
According to company’s ASX release, the sale price represents a ~17 percent profit margin to Orpheus when taking into account the acquisition and development costs of the projects paid by the company to date.
The sale proceeds will significantly strengthen Orpheus’s balance sheet as it moves towards achieving positive cash flow from existing production operations at the Kintap ADK mine. This allows the company’s operational team to more efficiently develop its long-term target area of South Kalimantan in Indonesia.
- B26 project sold at a ~17% profit to JV partner, PT Mega Coal
- Sale significantly strengthens balance sheet
- Enables focus on South Kalimantan projects and
- Strong cash position of over $3m upon receiving funds – well funded to assess acquisition opportunities
The South Kalimantan development program includes increasing production at the Kintap ADK mine, bringing proximal projects into production in the near term, and developing independent infrastructure t o support t he company’s mining operations. Additionally, Orpheus’s geological team will no w be focused on identifying a large exploration target in the South Kalimantan area for resource definition and mining development.
Under the terms of the binding Heads of Agreement, the US$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
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- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
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