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.
|
|
Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
|
|
|
Showing 5166 to 5170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
|
| |
| |
|
