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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
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