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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
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