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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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Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
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