Manila (Platts)--21Nov2012/412 am EST/912 GMT
ASX-listed Orpheus Energy, which has a mine in Indonesia, has signed its first coal offtake contract with an Indonesian steel manufacturing company, it said Wednesday. Orpheus did not identify the offtaker, but said it is based in Banjarmasin in South Kalimantan province. The steel firm will purchase 8,000-10,000 mt/month of steam coal for one year with following specifications -- 5,300-5,500 kcal/kg gross air dried, 33-35% total moisture air dried, 2-4% ash air dried and sulfur of 0.5% air dried, Orpheus said.Article continues below...Request a free trial of: International Coal ReportInternational Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
ASX-listed Orpheus Energy, which has a mine in Indonesia, has signed its first coal offtake contract with an Indonesian steel manufacturing company, it said Wednesday. Orpheus did not identify the offtaker, but said it is based in Banjarmasin in South Kalimantan province. The steel firm will purchase 8,000-10,000 mt/month of steam coal for one year with following specifications -- 5,300-5,500 kcal/kg gross air dried, 33-35% total moisture air dried, 2-4% ash air dried and sulfur of 0.5% air dried, Orpheus said.
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International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
The coal will be trucked from Orpheus' ADK Kintap mine to the steel company for use in power generation. The price will be based on a benchmark and adjusted quarterly, Orpheus said.--Cecilia Quiambao, Cecilia_quiambao@platts.com --Edited by Haripriya Banerjee, haripriya_banerjee@platts.com
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