We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
|
|
|
Showing 5306 to 5310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Parliament of New Zealand
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- ASAPP Information Group - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
|
| |
| |
|
