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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
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