MINING ENGINEERING – AUSTRALIA

Services sector ‘well placed’ for LNG boom

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 23 : 21-May-15

WorleyParsons CEO Andrew Wood rejects suggestions that mining services groups lack the capacity to handle huge growth in Australia’s LNG industry in coming years. Chevron Australia MD Roy Krzywosinski recently expressed concern about the ability of mining services providers to cope with the increase in LNG production. Wood argues that once projects commence production their maintenance requirements are much lower than in the construction stage.

CORPORATES
WORLEYPARSONS LIMITED – ASX WOR, CHEVRON AUSTRALIA PTY LTD, ACCENTURE AUSTRALIA LIMITED, BG GROUP PLC, CHEVRON CORPORATION, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, INPEX CORPORATION, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), KPMG AUSTRALIA PTY LTD

Bradken told to engage suitors

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Original article by Amanda Saunders, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 15 : 7-Apr-15

Shares in Bradken closed at $A2.29 on 2 April 2015. The stock peaked at $A2.35 in response to revelations that Pacific Equity Partners and Koch Industries had made a takeover offer pitched at $A2.50 per share. The former had previously joined forces with Bain Capital to offer $A5.10 per share for the mining services group. Bradken directors have spurned the latest offer, arguing that it is too low

CORPORATES
BRADKEN LIMITED – ASX BKN, PACIFIC EQUITY PARTNERS PTY LTD, KOCH INDUSTRIES INCORPORATED, BAIN CAPITAL LLC, BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED

Refinancing allows Boart boss to focus on long term

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Original article by Paul Garvey
The Australian – Page: 18 : 8-Dec-14

Investors in Australian-listed mining services group Boart Longyear are set to vote on a refinancing deal worth as much as $US342m ($A410m) with US-based private equity firm Centerbridge in mid-December 2014. It will come as a relief to CEO Richard O’Brien, who has had to face a series of crises since being appointed on 1 April 2013. He still believes that a turnaround in the resources sector may not occur until possibly 2016, and urges shareholders to support the package deemed "not fair but reasonable" by consultant KPMG

CORPORATES
BOART LONGYEAR LIMITED – ASX BLY, CENTERBRIDGE PARTNERS LP, KPMG AUSTRALIA PTY LTD, CGI GLASS LEWIS PTY LTD, ISS PROXY AUSTRALIA

Boart Longyear saved in Centerbridge deal

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Original article by Paul Garvey
The Australian – Page: 21 : 24-Oct-14

The US-based Centerbridge Partners private equity firm has announced that it will make as much as $US352m ($A401.8m) available to troubled mining services group Boart Longyear in a debt-to-equity deal. The Australian-­listed drilling company has suffered a share price decline of 93%-plus in a little over 1.5 years, and had recently created doubt over its ability to continue as a going concern. Centerbridge will lift its stake from 13% to between 41.6% and 70%, although its voting stock holding will be restricted to 49.9%

CORPORATES
BOART LONGYEAR LIMITED – ASX BLY, CENTERBRIDGE PARTNERS LP, BILLABONG INTERNATIONAL LIMITED – ASX BBG, OAKTREE CAPITAL MANAGEMENT LLC, UBS HOLDINGS PTY LTD

Contractors feel pain of tumbling iron ore prices

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 17 : 9-Sep-14

Falling iron ore prices have had a negative impact on engineering and mining contractors providing services to iron ore mining companies. Analysts have downgraded their ratings, and the share prices of companies such as Mineral Resources, NRW Holdings and Macmahon Holdings are likely to be under pressure. The stock of Mineral Resources fell 1.8 per cent on 8 September 2014 after it was downgraded by RBC Capital Markets from "outperform" to "sector perform"

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, NRW HOLDINGS LIMITED – ASX NWH, MACMAHON HOLDINGS LIMITED – ASX MAH, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN DESERT RESOURCES LIMITED – ASX WDR, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LEIGHTON HOLDINGS LIMITED – ASX LEI, DOWNER EDI LIMITED – ASX DOW, MONADELPHOUS GROUP LIMITED – ASX MND, AUSTIN ENGINEERING LIMITED – ASX ANG, BRADKEN LIMITED – ASX BKN, EMECO HOLDINGS LIMITED – ASX EHL, RBC CAPITAL MARKETS