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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
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