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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- White Energy Company Limited
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Planning Commission, India
- Australian Coal Association
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
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