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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
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