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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
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