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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
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- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- The University of Queensland
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
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