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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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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
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