We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
|
|
|
Showing 5121 to 5125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
