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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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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
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- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
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