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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 $233-million in 2007, for the same period.
Source: Mining Weekly
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Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
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- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Parliament of New Zealand
- Planning Commission, India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
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