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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
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