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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
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Showing 5916 to 5920 news of total 6871 |
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- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Minerals Council of Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
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