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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- PTC India Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
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