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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, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- The University of Queensland
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- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
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- Sojitz Corporation - Japan
- VISA Power Limited - India
- Bangladesh Power Developement Board
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- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
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- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
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- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
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- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
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- Chamber of Mines of South Africa
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- McConnell Dowell - Australia
- New Zealand Coal & Carbon
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- India Bulls Power Limited - India
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- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
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