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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, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
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Showing 4411 to 4415 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
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