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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
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