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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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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
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