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Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
 Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when looking to acquire assets, says multidisciplinary advisory service firm Ernst & Young (E&Y).
Ernst & Young director of transaction advisory services for Africa Adrian Macartney said at a media briefing on Tuesday that acquisitions had become more strategic, with companies considering the implications of an acquisition, rather than just the possible tonnage that could be added.
“We are seeing companies taking a far more strategic approach to acquisitions in terms of what they are going to buy, and a far more detailed look at what it is they are buying.”
Macartney added that companies were also looking to understand the parameters of a project, as running over budget and ramping up the project behind schedule, was no longer an option.
“Companies are going back to looking at the parameters of a project, deciding if it makes sense, and they are spending a little more time, and putting a little more caution into understanding the project and what makes it viable.”
Companies were also looking to bring the projects to market much earlier than their previous design strategy, ramping up a three-year project over two years, or even 18-months.
“Brining a project online quicker combats two things; one is that you reduce the time in which your engineers can spend money, and two, it brings in much needed inbound cash flows.”
Macartney noted that the recently completed Ernst & Young Lessons From Change survey, indicated that around 46% of the global mining companies taking part in the survey, indicated that they would be looking to acquire assets over the next 12 months, while around 21% of companies surveyed indicated that they were looking to divest noncore assets.
He noted that the most significant reason for these divestments would be cash generation and restructuring of the company.
E&Y director of assurance Mike Herbst noted that although several companies would look to divest of their least-producing assets, miners would also have to consider selling off their more profitable assets in order to generate sufficient funds to provide capital for their other projects.
“It is not necessarily about selling your worst asset. I think that is what a lot of people often go to first is to sell their dog assets, and keep the big ones. But sometimes it is about selling one of your good assets because it will give you a good price, because what you are after is funding for your other priority assets. So it is all about selling one of your jewels to sustain your future.”
Macartney noted that the decision to divest of a certain asset could also be influenced by the company’s unwillingness to be involved in a certain geographic area, or commodities market.
He added, however, that some of the assets on the market were still over priced, and asset owners needed to come to grips with the fact that their assets would not be worth the demand price, considering the current market conditions.
Despite the increase in acquisitions, E&Y stated in its survey that few of these acquisitions would be game-changers, and the company expected to see diminished opportunities for transformational mega-deals.
However, smaller, low-risk deals were still taking place. From January to July this year, there has been 399 deals in the mining and metals sector, of which 373 were valued at less than $200-million, with an average value of $51-million.
This compared with the 903 deals, with an average value of $138-million in 2008, and 919 deals with an average value of $233-million in 2007, for the same period.
Source: Mining Weekly
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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
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