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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
 * Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, Australia approved Chinese firm Yanzhou Coal Mining Co's $2.9 billion takeover of coal-miner Felix Resources Ltd on Friday, but said the local firm's assets must be run by an Australia-based company.
The deal is also conditional on listing the local unit on the Australian market and trimming Yanzhou's holding, but it does not change Australia's declared bias against takeovers of greenfield resource projects or major mining companies.
"I won't say this is a dramatic shift in government policy," said Ian Ramsay, a law professor of University of Melbourne.
"We are seeing government policy evolve in relation to foreign investment decisions and that is certainly the case in relation to investments by Chinese companies in Australian resources sector."
Chinese state-owned companies have been looking to buy up Australian mining assets to secure supplies of raw materials for its rapidly growing economy, the world's third largest.
But bilateral ties have been strained by Canberra's opaque and sometimes lengthy process for vetting foreign investments, with some high-profile deals falling through before a decision is reached or after strict conditions have been imposed.
"The government is looking for an acceptable middle ground. This does send a pretty positive message and I say this because these are not unduly onerous undertakings," Ramsay said.
LOCAL LISTING, EXECUTIVES
The Australian government has stipulated that Yanzhou Coal must list the local unit on the Australian stock market by 2012 and cut its ownership to less than 70 percent, Assistant Treasurer Nick Sherry said in a statement.
Sherry said Yanzhou had already accepted these conditions, as well as promised to base the local unit's chief executive and chief financial officer in Australia.
Yanzhou further agreed to market coal produced at all of its Australian mines "on arms-length terms with reference to international benchmarks and in line with market practices."
Felix, which has mines in Queensland and New South Wales states, produced 4.8 million tonnes of coal in the year to June. Analysts expect the deal to boost Yanzhou's output by about 10 percent.
"With these undertakings provided by Yanzhou, I consider that this acquisition is consistent with Australia's national interest," Sherry added.
In March, Canberra rejected Chinese state-owned firm Minmetals' $2.26 billion bid for all of local miner OZ Minerals on national security grounds.
Other mooted deals have also been derailed.
Anglo-Australian miner Rio Tinto walked away from a $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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Showing 5001 to 5005 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- The University of Queensland
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- MS Steel International - UAE
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