We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
 ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia's biggest export "contract" to supply coal to China from a new Queensland mine.
China Power International Holding's senior vice-president instead described the agreement as a "framework agreement", forcing Mr Palmer into desperate damage control as he flew back to Australia from China.
Mr Palmer and Queensland Premier Anna Bligh on the weekend announced what they said was an agreement for China Power International Development to buy $US60 billion ($68.8bn) worth of coal over the next 20 years from the Galilee Basin in central Queensland.
China Power International Development, a listed company on the Hong Kong Stock Exchange, issued a statement yesterday in which it denied it had reached such an agreement.
| "We're working harder to settle the final contract, which will take some time to complete” - Mr Zhao Yazhou |
Mr Palmer then issued a statement in which he said a mistake had been made and the agreement his company, Resourcehouse, had reached was with China Power International Holding, a Chinese government-owned enterprise based in Beijing.
Mr Palmer attended a lunch in Beijing yesterday with China Power International Holding before flying to Hong Kong and then Perth, but stood by the weekend announcement of the deal and the figures in it.
However, there was further doubt cast on the strength of the deal when China Power International Holding's vice-president said it had only signed a "framework agreement".
A report of a speech by Zhao Yazhou at the lunch said the two companies were still working on the final contract, but didn't indicate when a definitive agreement would be reached.
"We're working harder to settle the final contract, which will take some time to complete," Mr Zhao said.
Xinhua, the official Chinese news agency, reported a company official as saying the two companies had signed "an agreement of intent" and they had not yet started price negotiations.
Mr Palmer's company yesterday stood by its statement that the deal was a binding contract, but said the $US60bn figure was an estimate and it would not confirm if price negotiations had been detailed in the deal.
Resourcehouse executive director Phil McNamara said the company's statement, correcting its initial release on the deal, stated that the price would be linked to the market and the $US60bn figure was an estimate over the life of the agreement.
"It is linked to the market for 20 years of supply. We have estimated what we think the value is across the life of the agreement," he said yesterday.
Mr Palmer was yesterday travelling between Beijing, Hong Kong and Perth, but a statement from him said the contract was with China Power International Holding Limited, a Chinese government-owned enterprise based in Beijing, not its Hong Kong subsidiary, China Power International Development.
Ms Bligh said she had seen the contract and while it did not mention dollar totals, it did mention tonnages, and Mr Palmer had worked out the average price over a 20-year period.
"I'm advised that it is a legally binding agreement that will underpin the price contract," she said. One China-focused lawyer said the wording around binding contract and China's rebuttal that it was an "agreement of intent", sounded similar to the recent Australian Securities & Investments Commission's case against Andrew Forrest's Fortescue Metals Group.
The corporate watchdog lost its battle to prove that Mr Forrest and Fortescue had misled the market about the status of deals signed in 2004 with Chinese companies. ASIC is now appealing the ruling.
ASIC initiated legal action against Mr Forrest and Fortescue in the Federal Court in March 2006, claiming they had engaged in misleading and deceptive conduct by overstating agreements with three Chinese companies to finance its Pilbara iron ore project.
But Mr Forrest's team argued that contracts with Chinese companies were binding.
Source: The Australian
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
|
|
|
Showing 776 to 780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
|
| |
| |
|
