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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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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- ICICI Bank Limited - India
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