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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
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