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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
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