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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
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