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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
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