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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, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
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