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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
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