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Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
 - QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, close to majors such as Vale, Rio Tinto and ENRC
- Licenses encompass 206km of which 200km is underlain with Lower Karoo sediments, the main coal bearing formation in Mozambique
- Potential for large deposits of coking and thermal coal
- Experienced African coal team with strong in-country presence as partners
Queensland Bauxite Limited (QBL) has announced that it has signed a binding term sheet with Australian unlisted public company, Regius Coal Mining Limited (Regius Coal) in relation to the acquisition by QBL of an initial 35% interest in a Regius Coal subsidiary holding interests in two Mozambique exploration licenses considered to be prospective for coal (Mozambique Tenement Interests), located in the Zambezi coal basin in Tete province (the Transaction) with a further option to earn up to 51% of the Regius Coal subsidiary.
According to a note from QBL, upon completion of the Transaction, QBL and Regius Coal, as joint venture partners, intend to progress coal exploration activities over Licenses 4070L and 4169L.
Terms of the Acquisition
Under the binding term sheet, Regius Coal will incorporate an Australian proprietary company as a special purpose subsidiary of Regius Coal (Regius Coal SPV) to ho ld all o f Regius Co al’s legal, beneficial and economic interest in the relevant entity that holds 100% of Licences 4169L and 4070L.
QBL will:
(a) subscribe for that number of fully paid ordinary shares equal to 35% of the issued share capital of the Regius Coal SPV for US$750,000 (this amount of US$750,000 is to be used by the Regius Coal SPV to pay amounts owing to secure the initial 20% interest in License 4169L) (Initial SPV Acquisition) ; and
(b) for a period of 18 months after completion of the initial subscription, have the right (but not the obligation) to subscribe for a further 16% of the issued share capital in the Regius Coal SPV (up to 51% in Regius Coal SPV) for an aggregate amount of US$1.2 million in one or more tranches, with the percentage interest which QBL acquires in Regius SPV being adjusted proportionately.
The Transaction remains conditional on:
-Regius Coal completing the restructure of its holdings in the Regius Coal SPV Portfolio, so that the interest in the licences, the subject of that portfolio, are legally and beneficially owned by the Regius Coal SPV.
-The agreements between Regius Coal and the other third parties who are equity holders in the Regius Coal SPV Portfolio (as detailed in the Appendix) be amended as is necessary and/or desirable to give effect to the Transaction, provided always that those amendments are no less favourable to the Regius Coal SPV.
-None of the warranties provided by Regius Coal becoming materially false, misleading or incorrect.
Upon completion of the initial subscription,
-QBL will have the right to appoint a director to the board of the Regius Coal SPV. If at any time QBL holds a majority interest in Regius Coal SPV, it will be entitled to appoint a majority of directors of Regius Coal SPV.
-Regius Coal has also agreed to grant to QBL a first right of refusal in respect of any debt or equity financing of a member of the Regius Coal group and any investment, participation, acquisition, disposal or other dealing by Regius Coal or a member of the Regius Coal group in respect of any coal licence or other coal exploration tenement in which any member of the Regius Coal group has an interest.
About the Regius Coal Portfolio
Regius Coal is an unlisted Australian coal exploration company, focused on acquiring and exploring coal projects in Mozambique. Regius Coal currently holds an 80% interest in License 4070L and the right to acquire up to an 85% interest in License 4169L (the Regius Coal SPV Portfolio), as well as interests in other Mozambique exploration licences. Neither Regius Coal or its shareholders are related parties of the Company.
The Regius Coal SPV Portfolio of exploration licences are located in an area of the Tete province that is considered to have excellent hard coking coal and thermal coal potential. The Tete coal fields of Mozambique have proven to be the next frontier for large scale coking and thermal coal projects with multinational companies like Rio Tinto, Vale, Anglo American, Tata and others having already invested billions of dollars in exploration and development.
In partnering with Regius Coal to explore Licenses 4070L and 4169L, QBL will have the benefit of Regius Coal’s team that has significant African coal experience, a strong in-country presence and a unique set of financial, geological and project management skills that will be required to drive the required exploration program.
About the Zambezi Basin and Mozambique
The Mozambican coal region, in which the Regius Coal SPV Portfolio is situated, is considered to be one of the largest underdeveloped coal basins in the world. As a result of the strong prospectivity of the region and large-scale discoveries, most major coal areas in the Tete province have been allocated for exploration to various local and international companies.
Discovered coal deposits held by other companies in the Mozambique basins total in the order of 22 billion tonnes (based on publicly disclosed reports of inferred, indicated and measured mineral resources of high and low grade thermal coal and metallurgical coking coal) with companies having publicly proposed plans for collective production of circa 55 million tonnes per annum by around 2025.
According to company’s press release, the attractiveness of the Zambezi Coal Basin is due largely to a number of key factors:
-Large Scale of Coal Deposits: 22 billion tonnes of coal has already been discovered with exploration activity still at an early stage and further resources to be proven in coming years;
-Presence of Hard Coking Coal: Typical Zambezi Basin Coking Coal - CSR 64, CSN#9, Vol: 25%, 10.5% ash. Low Alkali & Aluminium in Ash - favourable for steel producers;
-High Value Secondary Product: large quantities of export quality thermal coal of 6,000kcal to add to profitability of mines in Mozambique;
-Low Cost of Mining: Strip ratios in the Zambezi Coal Basin are very low and overall mining costs are expected to be substantially less than its peers in Australia and Canada, making the margins more favorable in exporting both coking and thermal coal;
-Access to Asian Markets: Mozambique has excellent export routes (through new and existing ports) to the rapidly growing Indian and Chinese coal markets.
Source: Company's Press Release
Company’s disclaimer clauses apply
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
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Monday, 08 January 24
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Capesize
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Friday, 05 January 24
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Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
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