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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- The University of Queensland
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Australian Coal Association
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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