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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
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