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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Planning Commission, India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
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