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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
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