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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
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