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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
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