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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
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