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