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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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- The University of Queensland
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
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