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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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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
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- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
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