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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
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- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Renaissance Capital - South Africa
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
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