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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
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