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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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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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Showing 5206 to 5210 news of total 6871 |
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- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
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