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