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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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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
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