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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Planning Commission, India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
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