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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, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Meralco Power Generation, Philippines
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- Ministry of Transport, Egypt
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- Coal and Oil Company - UAE
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- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
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- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
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- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
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- Independent Power Producers Association of India
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- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
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- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
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- Semirara Mining Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
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- Eastern Coal Council - USA
- Indian Energy Exchange, India
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- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
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- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
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- SMG Consultants - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
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- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
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- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
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- Parry Sugars Refinery, India
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- Miang Besar Coal Terminal - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
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- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
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- Energy Link Ltd, New Zealand
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- Altura Mining Limited, Indonesia
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- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
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- Leighton Contractors Pty Ltd - Australia
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- Petron Corporation, Philippines
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- Australian Coal Association
- Bhoruka Overseas - Indonesia
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- Price Waterhouse Coopers - Russia
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