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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- The University of Queensland
- Vedanta Resources Plc - India
- Planning Commission, India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
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