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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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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ministry of Mines - Canada
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
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