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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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Showing 4926 to 4930 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- GMR Energy Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
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