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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, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Australian Coal Association
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
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