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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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Showing 4811 to 4815 news of total 6871 |
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- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
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