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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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Showing 6411 to 6415 news of total 6871 |
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- Parliament of New Zealand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
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