In its six month results to March 31 just announced, global mining explosives and blasting technology major Orica states its intention to sell Minova, its mining ground control division which was acquired in 2006 and restructured in 2016, but which has been developing and delivering pioneering ground support systems for the mining, construction and energy industries since 1882.

Minova provides a complete portfolio of ground support products including resins and mechanical stabilising products, chemical and cementitious grouts and adhesives, ventilation control, as well as associated equipment sales and installation services.

Orica Managing Director and CEO Sanjeev Gandhi said: “While Minova has delivered a substantially improved performance in recent times, it has been identified as non-core. Therefore, we will consider selling at an appropriate price.”

For the period, Minova revenue was impacted by a decline in the US coal market and the geopolitical tension between Australia and China. A decline in resin bulk revenue in Australia due to customer cost reductions and customer losses was partially offset by a strong increase in volumes in Canada from the hard rock market and new customer gains.

“Despite challenging market conditions, the underlying business and contract retention remained strong. The risk of structural declines in global thermal coal markets is being mitigated by diversification towards infrastructure and hard rock mining, together with expansion into growing markets such as India and Canada, and new product development.”