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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
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- Indian Oil Corporation Limited
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- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
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- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Thiess Contractors Indonesia
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- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
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- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Central Electricity Authority - India
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- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
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- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- White Energy Company Limited
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
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- Coal and Oil Company - UAE
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