Tag: acquisition

Epiroc completes acquisition of Australian mining logging company

Epiroc completes acquisition of Australian mining logging company

Epiroc has completed the acquisition of Kinetic Logging Services Pty Ltd, an Australian company that provides mining companies with geophysical logging services. Kinetic Logging Services, based in Perth, Australia, provides mining-technology measurement services to build improved geological models that help mining companies increase productivity. The company’s flagship product is OreSight, a highly advanced solution that provides near real-time borehole assay data and grade information. The mining companies feed this data directly into their blast pad models, allowing them to make improved decisions on production and ore blending. The company, which was part of MPC Kinetic Holdings, has about 180 employees and has annual revenues of about MAUD 30 (MSEK 195). The transaction is not subject to a disclosure obligation pursuant...

Resolute in talks to sell Ravenswood

Resolute in talks to sell Ravenswood

AUSTRALIAN-LISTED gold company Resolute Mining has confirmed media reports that it is in exclusive talks with a potential buyer for its Ravenswood gold mine in Queensland. Responding to Australian media reports, Resolute Mining said in a statement to the ASX that it had entered into exclusive negotiations with private equity firm EMR Capital Management for the sale of the mine. Negotiations between Resolute and EMR Capital on the sale are ‘significantly advanced’ and could net the gold miner up to $300m, comprising $100m upfront and a deferred payment of $200m. The deferred payment of $200m could vary as it is subject to a number of factors, including future gold prices, production rates and investment outcomes for Ravenswood. The talks between...

$300m acquisition boosts Evolution portfolio

$300m acquisition boosts Evolution portfolio

By Rachel Dally-Watkins 21 April, 2015 EVOLUTION Mining is set to become Australia’s third biggest gold producer with the $300 million acquisition of La Mancha Group International’s Australian assets. On 20 April Evolution announced it had entered a binding agreement to acquire the high-grade Frog’s Leg underground gold mine, the adjacent White Foil open-pit gold mine and the 1.5 million tonne per annum carbon in leach processing plant, all close to Kalgoorlie in WA. The acquisitions boast combined production of between 130,000oz and 160,000oz of gold per annum, at an all-in sustaining cost of between...

Acquisition spending rises from 2013 lows: report

Acquisition spending rises from 2013 lows: report

By Rachel Dally-Watkins 20 April, 2015 DESPITE an almost double year-on-year increase from 2013, gold and base metal asset acquisitions in 2014 were the third lowest in a decade. According to the SNL Metals & Mining report Base Metals and Gold Acquisitions Activity, 2005-2014 there was a “welcome improvement” in mining asset transactions, but noted that the caution shown by mining companies in 2014 was surpassed only by results from 2013 and 2009. “Since 2012 have bought fewer assets that require large capital investment,” SNL stated. “Instead, companies have opted to maximise the value of assets they already own, and to enter joint ventures that reduce costs while at least maintaining production.” According to the report, there were...