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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Planning Commission, India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
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