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Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010


Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky year in which Australia blocked a series of Chinese takeovers.

The purchase of Australia's Felix Resources by Yanzhou Coal Mining Co could open the door to more acquisitions, said Australia's resource minister and China's ambassador.

"Yanzhou's successful takeover marks a new start in cooperation between Australia and China," said China's ambassador to Australia, Zhang Junsai.

"China brings not only capabilities, jobs and opportunities, but also secure long-term market share," Zhang said.

The buyout was the biggest by a Chinese firm in Australian mining history and among the top 10 mergers and acquisition in Australia in 2009.

Bilateral and investment ties were hurt last year when Chinese companies were prevented from taking over Australian businesses, and by the Chinese detention of an executive from Australian mining firm Rio Tinto (RIO.AX) on commercial espionage charges. To read more Reuters



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Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...


Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...


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Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify. ANZ senior commodities analyst Mark Pervan has increased h ...


Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...


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