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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Indonesian Coal Mining Association
- Aditya Birla Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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