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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
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