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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
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