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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
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