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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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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
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