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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, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
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- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
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