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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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Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Planning Commission, India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
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