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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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Showing 4726 to 4730 news of total 6871 |
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- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Coalindo Energy - Indonesia
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