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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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Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
Thursday, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
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- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
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