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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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Showing 4786 to 4790 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
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