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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, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
Wednesday, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
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- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
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