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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- The University of Queensland
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
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