|
| Mining unit attracts foreign buyer |
| Pradeep Gooptu / Kolkata Mar 23, 2009, 00:22 IST |
|
The quest for lower costs prompted by slowdown in the mines sector, and the growing hunger of Indian companies to secure mining assets overseas, would lead to more and more mergers and alliances between foreign and Indian SMEs companies in niche areas of the mining sector.
The greater integration appeared inevitable as mining continued to be niche market requiring highly specialised skills and tailormade solutions ideal for delivery through SMEs rather than giant enterprises working on a one-size-fits-all approach, though actual implementation of projects would require the resources and skills held by large enterprises only< said sources in the Indian Mines Bureau.
Mining has always been a sector led by small, innovative companies and extraordinary, even maverick, entrepreneurs rather than structured corporate entities, said mining sector sources in Kolkata at a recent meet.
For example, the UK based IMC Group Consulting Limited (IMC) recently acquired 51 per cent state in Kolkata-based SRG Services and Consultancy Private Limited (SRG), a highly specialised geological, mining and environmental consultancy with capabilities in geological modelling, mine planning and resource valuation with established international experience from consulting projects in countries like Indonesia, Turkey, Iran,
Kazakhstan, Oman, Mexico, DR Congo, Mozambique, Morocco and Liberia.
In recognition of the expertise that an SEM like SRG was brining to the table in the takeover deal, SRG founder and managing director T N Gunaseelan, and directors V S Rao and Hemen Bhagawati, would continue to be on the SRG board, which now had Barry Edwards, Chris Wells and Arif Anwar from IMC as new board members.
The mining sector sources, in the city for global sector meet, said companies like SRG were typical of Indian enterprises that were attracting global attention with its team of about 30 qualified professionals.
IMC, part of the German mining multinational DMT, offered services in the environmental, mining, minerals, engineering and energy industries world wide, and was a recognised world leader in its field.
Chris Wells said the acquisition of SRG would lead to a permanent Indian presence for IMC.
SRG would contribute to IMC businesses like due diligence, data study and project management, in view of its unique expertise to do IT-based modeling with available data, said Gunaseelan.
In the Indian context, the specialised skills of IMC on community rehabilitation and recovery of lands formerly used for mining, and making them suitable for fresh use, would be important, added Gunaseelan. IMC led the international mining activities of its parent company DMT GmbH & Co. KG of Germany, in turn wholly owned by TÜV NORD Group of Germany, with annual turnover in the region of €1 billion.
Currently IMC has active projects in more than 30 countries.
The IMC-SRG websites would be harmonised in the near future, he added. IMC was one of the preferred consultancies for Competent Persons Reports for mining flotations or IPOs on all the major international stock exchanges, especially the London Stock Exchange Main and AIM markets, recent clients being Hochschild Mining plc., KSK Energy Ventures, Kazakhmys, Xstrata plc. and Polska Grupa Energetyczna.
Wells said IMC was also a specialist in training in developing countries, intermediate technology countries, and highly developed nations such as UK, USA, Australia and South Africa through creation of a self-contained training capability within the client organisation.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
Content Guide
