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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
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- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
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- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
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- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
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