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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, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
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- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
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