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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
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