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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Deloitte Consulting - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
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