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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
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