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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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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- The University of Queensland
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
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- Cement Manufacturers Association - India
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- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
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- Thiess Contractors Indonesia
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- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
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