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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
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