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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
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- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
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- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
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- Africa Commodities Group - South Africa
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- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
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- Interocean Group of Companies - India
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- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
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- Global Business Power Corporation, Philippines
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- Siam City Cement PLC, Thailand
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- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
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- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
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- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
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