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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, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
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- Global Business Power Corporation, Philippines
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- Port Waratah Coal Services - Australia
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- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
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- LBH Netherlands Bv - Netherlands
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- Planning Commission, India
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- Heidelberg Cement - Germany
- Independent Power Producers Association of India
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- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
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- The Treasury - Australian Government
- ICICI Bank Limited - India
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- Indonesian Coal Mining Association
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- White Energy Company Limited
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- Aditya Birla Group - India
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- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
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- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
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- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
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- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
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- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
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- India Bulls Power Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
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- Kohat Cement Company Ltd. - Pakistan
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- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
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- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Wilmar Investment Holdings
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- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
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