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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
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