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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
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