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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
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