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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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