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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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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
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