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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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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
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