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Submitted by: Himfr Tian
As the competition for raw materials, the global mining and metals industry turnover and trading volume is bound to rise, “Ernst Young global mining and metals industry, Managing Partner Mike Elliott, said on the 6th. The first half of 2010 to complete the transaction volume growth over last year 20%, up to 544, while turnover increased 46%, reaching 40.6 billion U.S. dollars, China, Japan, India, Singapore, South Korea became the largest buyers.
Diversification of trading destinations
In addition to the resources of the demand, other factors also are driving trade growth, including cash flow there has been Gaishan will receive a capital has increased, industry streamline the work will be Geng Wei Ge Enterprise Xi Wang’s Chuizhizhengge so strong. Since the end of 2009, trading activity started to improve, and continue to maintain the growth momentum.
Australia is the most popular 2009, investment destination, and the first half of this year, Canada has become the most popular investment destination, at the same time, substantial growth in trading activity in Latin America.
“Trading activities will continue to accelerate the pace of the closing on June 30 pending transactions are transactions completed during the first half of this year 4 times, and no signs of slowing down.” Elliott said, will continue to see global diversified mining company seeking acquisition opportunities reinforcement. Expected in the first half of 2010, a larger amount of transactions dominated the great merger of the North American market in the next 6 to 12 months continued. This is due to the ongoing consolidation in North America is being driven by economic recovery environment for those who receive cash and hopes of gaining synergies through the acquisition of companies that provide acquisition opportunities.
Elliott said the next 6 to 12 months, trading continued diversification of destinations in Africa and Central Asia will be increased trading activity.
Equity financing as the main channel
As the shortage of available bank loans, equity financing is still the preferred source of funds in the industry. 2009 of the larger global diversified mining companies to become the leading force in raising funds in 2010, middle market companies raise funds from the more active.
Initial public offering (IPO) activities have begun to return, but rather cautious first half of 2010 listed a total of 53 completed transactions, financing amounted to 6.1 billion U.S. dollars, compared with the same period last year, 19 cases increased the number of transactions, financing, increase the amount of 1.8 billion.
Although the Australian Stock Exchange (ASX) and the Toronto Stock Exchange (TSX) trading volume in the lead, but the Hong Kong Stock Exchange is still the choice of the industry, the world’s largest single market transactions (UC Rusal Rusal listing financing amounted to 2.2 billion U.S. dollars) is the Hong Kong Stock Exchange.
Bond issuance in the first half of 2010 compared with first half of 2009 fell more than 30% compared to because of the large diversified mining companies decline in circulation. China, the highest amount of bond financing, the total amount of 26.4 billion U.S. dollars global financing accounted for 34%.
Bank loans continued to decline in loans during the first half of this year compared with last year has decreased. Nearly two-thirds of the amount of money raised for the restructuring or extension of existing loans.
Elliott said, “Globally, the industry in bank loans in the doldrums, but BHP Billiton (BHP Billiton) potassium carbonate to obtain bank loans for acquisitions, which may indicate the occurrence to the long-awaited change.”
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