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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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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Leighton Contractors Pty Ltd - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Aditya Birla Group - India
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- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sical Logistics Limited - India
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- Meralco Power Generation, Philippines
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- LBH Netherlands Bv - Netherlands
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- Rashtriya Ispat Nigam Limited - India
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- Minerals Council of Australia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
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- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
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- Australian Coal Association
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- PTC India Limited - India
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- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
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- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
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- Mintek Dendrill Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Standard Chartered Bank - UAE
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- Singapore Mercantile Exchange
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- Toyota Tsusho Corporation, Japan
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- Indian Energy Exchange, India
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- IEA Clean Coal Centre - UK
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- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
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- Electricity Generating Authority of Thailand
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- Billiton Holdings Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Meenaskhi Energy Private Limited - India
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- The University of Queensland
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- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
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- SN Aboitiz Power Inc, Philippines
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