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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
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- Wilmar Investment Holdings
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- European Bulk Services B.V. - Netherlands
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- AsiaOL BioFuels Corp., Philippines
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- Energy Link Ltd, New Zealand
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- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
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