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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- White Energy Company Limited
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Australian Coal Association
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
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