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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
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