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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 $233-million in 2007, for the same period.
Source: Mining Weekly
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Marubeni Corporation - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
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