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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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- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
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