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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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Showing 6366 to 6370 news of total 6871 |
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- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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