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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
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