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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
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