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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
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