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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- VISA Power Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
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