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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
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