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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
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