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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
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