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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, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
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- Renaissance Capital - South Africa
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- The University of Queensland
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- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
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- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- MS Steel International - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
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