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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, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
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- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- White Energy Company Limited
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
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