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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
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