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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
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
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