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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
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- Power Finance Corporation Ltd., India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
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- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- PTC India Limited - India
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- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
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- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
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