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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
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