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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, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
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- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
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