We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
|
|
|
Showing 6226 to 6230 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
|
| |
| |
|
