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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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Showing 5041 to 5045 news of total 6871 |
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- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
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