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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
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