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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- The University of Queensland
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
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