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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Planning Commission, India
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- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
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- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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- Central Electricity Authority - India
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- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
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- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
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- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
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- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
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- Australian Commodity Traders Exchange
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- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
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- Salva Resources Pvt Ltd - India
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
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- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
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- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
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