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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- The University of Queensland
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
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