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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, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
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- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
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