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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, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
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- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
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- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
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- Eastern Coal Council - USA
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- Global Green Power PLC Corporation, Philippines
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- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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