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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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Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
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- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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