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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- VISA Power Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
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