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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
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- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
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- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
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- Australian Coal Association
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
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- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Economic Council, Georgia
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- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
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- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
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- VISA Power Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
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