Epiroc has agreed to acquire Kinetic Logging Services Pty Ltd, an Australia-based company that provides mining companies with geophysical logging services.
Based in Perth, Kinetic Logging Services provides mining technology measurement services to build improved geological models to help mining companies increase productivity, Epiroc says. The company’s flagship product is OreSight, a solution that provides near real-time borehole assay data and grade information. Mining companies feed this data directly into their blast pad models, allowing them to make improved decisions on production and ore blending.
The company is part of MPC Kinetic Holdings, has about 180 employees and has annual revenues of about A$30 million ($23 million).
MPC Kinetic says it operates the world’s only semi-automated high efficiency downhole assay service, with its OreSight vehicle replacing outdated methodology that generated a large quantity of physical samples that needed to be transported for analysis. OreSight instead allows for the collection of geochemical data using FastGrade tools on blast pads which see 50-60 holes logged in a 12-hour shift with data automatically transferred via 4G to a real-time operations centre – OreSight Central – for analysis.
Helena Hedblom, Epiroc’s President and CEO, said: “Epiroc is looking forward to welcome the great team at Kinetic Logging Services to the Epiroc Group. Together, we will provide a wide range of smart products and services that strengthen mining customers’ end-to-end productivity, and we look forward to bringing OreSight to our customers around the world.”
The acquisition is expected to be completed this quarter.