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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, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Minerals Council of Australia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
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