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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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Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
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- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
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