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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
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