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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
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- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
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- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
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- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
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