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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
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