We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
|
|
|
Showing 5431 to 5435 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Australian Coal Association
- India Bulls Power Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
|
| |
| |
|
