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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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