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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
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- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
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