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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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