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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- ICICI Bank Limited - India
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- Riau Bara Harum - Indonesia
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- Merrill Lynch Commodities Europe
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- Manunggal Multi Energi - Indonesia
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- Energy Development Corp, Philippines
- The University of Queensland
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- Petron Corporation, Philippines
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- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
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- Wood Mackenzie - Singapore
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- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Power Finance Corporation Ltd., India
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- Mintek Dendrill Indonesia
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- White Energy Company Limited
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- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
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- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
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- AsiaOL BioFuels Corp., Philippines
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- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
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- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
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- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Aditya Birla Group - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
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- San Jose City I Power Corp, Philippines
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- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Thai Mozambique Logistica
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- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
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- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
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- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
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- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
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- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
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- Central Electricity Authority - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
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- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coal and Oil Company - UAE
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- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
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- Indika Energy - Indonesia
- Siam City Cement - Thailand
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