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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- GMR Energy Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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