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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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Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
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- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Planning Commission, India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
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