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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- The University of Queensland
- MS Steel International - UAE
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
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