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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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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Eastern Coal Council - USA
- PTC India Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
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