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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, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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Showing 4916 to 4920 news of total 6871 |
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- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Planning Commission, India
- The University of Queensland
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
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