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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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Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
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- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
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- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- The Treasury - Australian Government
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
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