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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
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- Parry Sugars Refinery, India
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- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
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- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- The University of Queensland
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
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- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
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