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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, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- VISA Power Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- The University of Queensland
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
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