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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
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