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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
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