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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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Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
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