Entries Tagged as ‘Mining’

August 8, 2008

How to value a project, the inputs

Valuations are traditionally done in boom times and bust times, and they are done very differently in both times. I am going to go over how to value a mineral property in a full market cycle. I am not going to focus on any one project, but I will draw conclusions that can be applied [...]

July 23, 2008

More CSN (and the bidders are unknown)

Reuters India: Russians, Japanese vie for CSN unit
Ok, well, not unknown, but we are not certain who they are. There are a couple separate lists provided by different people, so I tend to not trust them. The valuation numbers are more interesting. We are seeing a $10 billion price tag for the whole project or [...]

July 15, 2008

Chinese sell out of U.S. project to Cliffs

PR-Insider.com: Cleveland-Cliffs updates 2008 iron ore revenue-per-ton guidance; provides commentary on 2009 North American iron ore pricing
Reuters: Cleveland-Cliffs buys out minority holder in Minnesota
What is 30% of 5.2 million tonnes of U.S. pellet production worth? Apparently a whole lot of money. Let’s break down the math. Cleveland-Cliffs bought 30% of United Taconite from Laiwu for [...]

June 2, 2008

Another good deal by the Indians

Bloomberg.com: Sterlite rises to five-month high on plan to buy Asarco

London Times Online: Tempus: Copper bottomed
This is a very smart deal. Sterlite bought okay assets for a decent price with the environmental liabilities stripped. The removal of those liabilities makes these assets make sense and really provides comfort for taking this risk. They are also [...]