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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- White Energy Company Limited
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
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