We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
|
|
|
Showing 11 to 15 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Planning Commission, India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- VISA Power Limited - India
|
| |
| |
|
