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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
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- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
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- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
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- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
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- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Marubeni Corporation - India
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- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- GMR Energy Limited - India
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- MS Steel International - UAE
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
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