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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
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