We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
 ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia's biggest export "contract" to supply coal to China from a new Queensland mine.
China Power International Holding's senior vice-president instead described the agreement as a "framework agreement", forcing Mr Palmer into desperate damage control as he flew back to Australia from China.
Mr Palmer and Queensland Premier Anna Bligh on the weekend announced what they said was an agreement for China Power International Development to buy $US60 billion ($68.8bn) worth of coal over the next 20 years from the Galilee Basin in central Queensland.
China Power International Development, a listed company on the Hong Kong Stock Exchange, issued a statement yesterday in which it denied it had reached such an agreement.
| "We're working harder to settle the final contract, which will take some time to complete” - Mr Zhao Yazhou |
Mr Palmer then issued a statement in which he said a mistake had been made and the agreement his company, Resourcehouse, had reached was with China Power International Holding, a Chinese government-owned enterprise based in Beijing.
Mr Palmer attended a lunch in Beijing yesterday with China Power International Holding before flying to Hong Kong and then Perth, but stood by the weekend announcement of the deal and the figures in it.
However, there was further doubt cast on the strength of the deal when China Power International Holding's vice-president said it had only signed a "framework agreement".
A report of a speech by Zhao Yazhou at the lunch said the two companies were still working on the final contract, but didn't indicate when a definitive agreement would be reached.
"We're working harder to settle the final contract, which will take some time to complete," Mr Zhao said.
Xinhua, the official Chinese news agency, reported a company official as saying the two companies had signed "an agreement of intent" and they had not yet started price negotiations.
Mr Palmer's company yesterday stood by its statement that the deal was a binding contract, but said the $US60bn figure was an estimate and it would not confirm if price negotiations had been detailed in the deal.
Resourcehouse executive director Phil McNamara said the company's statement, correcting its initial release on the deal, stated that the price would be linked to the market and the $US60bn figure was an estimate over the life of the agreement.
"It is linked to the market for 20 years of supply. We have estimated what we think the value is across the life of the agreement," he said yesterday.
Mr Palmer was yesterday travelling between Beijing, Hong Kong and Perth, but a statement from him said the contract was with China Power International Holding Limited, a Chinese government-owned enterprise based in Beijing, not its Hong Kong subsidiary, China Power International Development.
Ms Bligh said she had seen the contract and while it did not mention dollar totals, it did mention tonnages, and Mr Palmer had worked out the average price over a 20-year period.
"I'm advised that it is a legally binding agreement that will underpin the price contract," she said. One China-focused lawyer said the wording around binding contract and China's rebuttal that it was an "agreement of intent", sounded similar to the recent Australian Securities & Investments Commission's case against Andrew Forrest's Fortescue Metals Group.
The corporate watchdog lost its battle to prove that Mr Forrest and Fortescue had misled the market about the status of deals signed in 2004 with Chinese companies. ASIC is now appealing the ruling.
ASIC initiated legal action against Mr Forrest and Fortescue in the Federal Court in March 2006, claiming they had engaged in misleading and deceptive conduct by overstating agreements with three Chinese companies to finance its Pilbara iron ore project.
But Mr Forrest's team argued that contracts with Chinese companies were binding.
Source: The Australian
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
|
|
|
Showing 6021 to 6025 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Planning Commission, India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The University of Queensland
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
|
| |
| |
|
