MACA Ltd, in response to recent media speculation, says it is currently considering the potential purchase of Downer EDI Limited’s Mining West division.
The contractor says such a move for the open-pit mining business is consistent with statements made at its Annual General Meeting in November 2020, which outlined that it continued to explore and pursue growth opportunities that will deliver “value to shareholders on an ongoing basis”. This exploration, it said, may include investments in new businesses or acquisitions where considered appropriate.
MACA added: “The process is ongoing and MACA would only pursue a binding offer to acquire the business if it were to align with its strategy and deliver value for the company’s shareholders.”
Downer has previously announced it is seeking expressions of interest in the various parts of its portfolio of mining businesses.
It has already announced the sale of Downer Blasting Services, the Snowden consulting business and its share of the RTL Mining and Earthworks joint venture, while also stating the company is in active discussions with several interested parties in relation to the rest of its mining portfolio.