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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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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- The University of Queensland
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
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