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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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Sunday, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
COALspot.com – Coal swaps for the year 2014 indicate that, the pressure on coal prices will continue at least until next year. Ave ...
Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
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