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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Wilmar Investment Holdings
- VISA Power Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
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