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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
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