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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
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