STRACON SA, a majority owned subsidiary of Ashmore Group, announced that it acquired, through its wholly owned subsidiary STRACON International SAC, a 60% controlling interest in Dumas Holdings Inc. Dumas is a leading, full-service, underground mining contractor, focused on providing services to clients in Canada and Mexico. Dumas specialises in underground mine construction, mine development, production mining, mine services and engineering. As an example of ongoing work, Dumas Contracting Ltd was recently awarded a project at Goldcorp’s Hoyle Pond Mine, in Timmins, Ontario. On this project, Dumas is providing development mining services as part of an ongoing exploration program at Hoyle Pond through the remainder of 2018.

The acquisition combines STRACON’s market leading position as a full-service mining contractor specialising in open-cut mines in Latin America with Dumas’ leading underground capabilities, providing STRACON with increased access to the growing North American market. The deal closed effective as of October 26, 2018. Daniel Dumas will remain with a 40% shareholding and a member of the Board of Directors of Dumas. Steve Dixon, Chief Executive Officer, of STRACON, said: “This acquisition is an important part of our strategy to diversify the services we offer and the jurisdictions where we operate. Dumas has a significant portion of the underground market in Canada and Mexico. The addition of their capabilities creates a powerful service offering for our clients and investors.”

Dumas Holdings is a leading full-service underground mine builder, designer, operator and contractor providing services to clients throughout the Americas. Since 1994, Dumas has evolved from a small French-Canadian owned boutique underground mining contractor to an international full-service underground mining contractor. With more than 1,000 highly qualified and safety-focused employees, Dumas continues to enjoy steady growth in high-demand markets.