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Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry that can exponentially perk up domestic economic growth.
San Miguel president Ramon Ang said Southeast Asia’s biggest food and beverage conglomerate, which has been diversifying into heavy industries, was also starting to pare down its debts while keeping enough for future acquisitions.
“In the Philippines, the potential of mining is so huge because we have a good deposit of gold, nickel and iron ore,” Ang said.
“If you can develop it, it’s big compared to existing players. We have so many ideas but we’re doing everything quietly,” he said.
San Miguel earlier obtained a foothold in the country’s biggest power retailer Manila Electric Co. and oil refiner Petron Corp. It is also investing in dormant Liberty Telecom Holdings Inc., which it plans to use as its vehicle for its foray into the highly competitive telecommunications business.
Ang said San Miguel was in talks with many groups and open to an array of opportunities but would like to keep details of its merger and acquisition strategy close to its chest.
San Miguel had looked at offshore mining opportunities too, particularly in Indonesia.
Earlier, American investment banking giant Goldman Sachs offered a piece of Indonesia’s second most valuable coal miner Adaro Energy, but Ang said the stake offered was too small.
The conglomerate had earlier looked into the biggest Indonesian coal miner PT Bumi Resources when its controlling stockholder, the Bakrie family, was selling assets to restructure debts.
For its part, Ang said San Miguel had started to use excess cash to reduce its debt, both at the parent and subsidiary levels.
As of end-March last year, San Miguel at the parent level had P51 billion worth of drafts and notes payable.
Source: http://business.inquirer.net/money/breakingnews/view/20090608-209313/San-Miguel-eyes-local-mining-ventures
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Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
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- Indo Tambangraya Megah - Indonesia
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- Altura Mining Limited, Indonesia
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- Eastern Coal Council - USA
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- Goldman Sachs - Singapore
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- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
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- Timah Investasi Mineral - Indoneisa
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- Cigading International Bulk Terminal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
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- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
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- Sojitz Corporation - Japan
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- Chamber of Mines of South Africa
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- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
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