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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
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