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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$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
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- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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