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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Planning Commission, India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
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