We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
|
|
|
Showing 5696 to 5700 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- VISA Power Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
|
| |
| |
|
