Orica recently inked a binding agreement to acquire mining geospatial tool and instrument manufacturer Axis Mining Technology for A$260 million in cash.
Orica officials said the addition of the company will fast-track its capabilities to back the new mineral discoveries needed for decarbonization. An addition to Orica’s Digital Solutions platform, it will also create a leading full-service orebody intelligence business and position the newly combined Orica to become the industry’s first integrated, end-to-end, mine to mill solutions provider.
“Orica’s purpose is to sustainably mobilize the earth’s resources and achieving this starts with a better understanding of the orebody at the start of the mining value chain. I believe that Axis’ differentiated geospatial tools and instruments, combined with our existing suite of digital solutions will provide compelling orebody intelligence to customers and support the delivery of the industry’s first end-to-end solutions platform, from mine to mill,” said Orica MD and CEO Sanjeev Gandhi.
“The integration of Axis’ technology and expertise will accelerate our ability to support our customer’s digital transformation efforts around the world, helping them to operate more efficiently, sustainably and safely.”
Completion of the acquisition is expected by October, subject to satisfaction of conditions precedent. Under the deal’s terms, Axis’ existing management team will enter into new employment agreements with Orica.