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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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- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- VISA Power Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
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