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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, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
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