Archives: Mining mergers and acquisitions

Wood says it has completed the sale of conveyor systems business Terra Nova Technologies (TNT), close to six weeks after the deal was announced. Following a strategic review of its portfolio, Wood identified potential asset disposals which were expected to generate proceeds in the range of $200-$300 million, with the TNT sale making a “good[…]

Schlumberger has entered into an earn-in agreement with Pure Energy Minerals Ltd that could see it become the 100% owner of a lithium brine project in Nevada, US. Pure Energy has granted subsidiaries of Schlumberger an option to acquire all of its interests in the Clayton Valley project in return for constructing, at its own[…]

Calandra Group has completed the acquisition of the roller shop division of Classic Conveyor, a division of Fenner Dunlop Americas. The deal was consummated on April 30, with Classic Conveyor becoming a part of JM Conveyors, part of the Jennmar Group, on May 1. Tony Calandra, Group President of Frank Calandra and Calandra Group, said:[…]

DDH1 Holdings says it has acquired Ranger Drilling as it looks to grow the Australia iron ore RC drilling specialist’s business. DDH1 Holdings now consists of three drilling businesses, namely DDH1 Drilling, Strike Drilling and Ranger Drilling. Ranger was established in 2005 by Matt and Julie Izett and specialises in providing reverse Circulation (RC) drilling[…]

WorleyParsons has announced it has paid the consideration to complete the $3.2 billion (A$4.55 billion) acquisition of Jacobs ECR and the acquisition was completed on Friday 26 April 2019 New York time. “The new merged business is a pre-eminent global provider of professional project and asset services in energy, chemicals and resources employing 57,600 people[…]

Wood has agreed the sale of its Terra Nova Technologies business to Cementation Americas, a business owned by Murray & Roberts Holdings. The sale of the conveying and material handling systems solutions business is expected to bring in cash proceeds of $38 million, Wood said, with closing expected in the June quarter. David Kemp, Wood[…]

Chaarat has signed a binding term sheet to enter into a joint venture with Turkey-based mining and mine construction contractor Çiftay İnsaat Tahhüt ve Ticaret AS, to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyz Republic. Çiftay, a partner since 2017, which mobilised equipment to the Tulkubash site in the Chatkal Valley last[…]

Barrick Gold and Newmont Mining have signed an implementation agreement that should see the two companies’ Nevada mining operations, assets, reserves, and talent combine under a joint venture. The joint venture will, according to the two companies, allow them to capture an estimated $500 million in average annual pre-tax synergies in the first five full[…]

Newcrest Mining has entered into an agreement to acquire a 70% joint venture interest in Imperial Metals’ Red Chris copper-gold mine and surrounding tenements in British Columbia, Canada, for $806.5 million. The deal will see Newcrest become Red Chris operator, in charge of deciding how to exploit the copper-gold porphyry open-pit mine. Newcrest said the[…]

Dana has entered into a strategic partnership with Hyliion, which will see the New York-listed company take an equity position as a lead investor in the Class 8 electrification company. Dana said: “The investment is another step in a cadence of strategic transactions to position Dana as the leader in e-propulsion.” Under the agreement, Dana[…]