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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, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Australian Coal Association
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
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