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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, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
...
Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
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- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
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- Anglo American - United Kingdom
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- Central Java Power - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
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- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
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- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
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- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- The University of Queensland
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
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