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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- The University of Queensland
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
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