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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 $233-million in 2007, for the same period.
Source: Mining Weekly
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Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
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- Interocean Group of Companies - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
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