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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- White Energy Company Limited
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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