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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- PTC India Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
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