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Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010


Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky year in which Australia blocked a series of Chinese takeovers.

The purchase of Australia's Felix Resources by Yanzhou Coal Mining Co could open the door to more acquisitions, said Australia's resource minister and China's ambassador.

"Yanzhou's successful takeover marks a new start in cooperation between Australia and China," said China's ambassador to Australia, Zhang Junsai.

"China brings not only capabilities, jobs and opportunities, but also secure long-term market share," Zhang said.

The buyout was the biggest by a Chinese firm in Australian mining history and among the top 10 mergers and acquisition in Australia in 2009.

Bilateral and investment ties were hurt last year when Chinese companies were prevented from taking over Australian businesses, and by the Chinese detention of an executive from Australian mining firm Rio Tinto (RIO.AX) on commercial espionage charges. To read more Reuters



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Recent News

Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...


Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...


Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...


Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...


Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...


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