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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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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- VISA Power Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
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