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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Therma Luzon, Inc, Philippines
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- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- The University of Queensland
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
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- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
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