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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
|
|
|
Showing 41 to 45 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
|
| |
| |
|
