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