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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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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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