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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- PTC India Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Planning Commission, India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
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