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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
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