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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- The University of Queensland
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
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