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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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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
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- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
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