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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 $233-million in 2007, for the same period.
Source: Mining Weekly
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Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
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- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- White Energy Company Limited
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
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