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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
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