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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
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- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
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- AsiaOL BioFuels Corp., Philippines
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- Australian Coal Association
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- Energy Development Corp, Philippines
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- SN Aboitiz Power Inc, Philippines
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- Merrill Lynch Commodities Europe
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- Thai Mozambique Logistica
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- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
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- Indian Energy Exchange, India
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- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
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