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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Indonesian Coal Mining Association
- PTC India Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
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