Molycop has announced the signing of an agreement to acquire Process IQ (PIQ), a mining technology provider of proprietary data analytics and visualisation, instrumentation and advanced process control solutions.
The agreement represents an exciting and important step in Molycop’s digital transformation, as the acquisition of Process IQ complements Molycop’s MillSlicer technology platform and expands its product and service capabilities across leaching, milling (comminution) and flotation, it said. Some of the solutions PIQ provides include mill vibration technology, cyanide measurement and advanced process control solutions for processing plants.
Process IQ also provides circuit optimisation consultancy through “Orway IQ”, a joint venture between Orway Mineral Consultants (OMC) and Process IQ. OMC is a wholly-owned subsidiary of Lycopodium.
Process IQ was established in 2011 by Pieter Strobos and Daniel van der Spuy and is headquartered in Perth, Western Australia.
On signing the agreement, Strobos and van der Spuy said: “Together, a combined Process IQ and Molycop will be able to better serve the global mining industry. We can now provide leading digital technology solutions alongside process optimisation expertise for our customers to help them realise sustainable productivity enhancements and operational efficiency.”
Molycop added: “Process IQ has established a reputation as a trusted technology partner of metallurgists and mineral processing engineers. Process IQ specialises in using technology to its full potential for its mineral processing customers. By combining specialised instrumentation with advanced process control, data analytics and visualisation, Process IQ builds solutions that deliver step-change improvements for its customers. Process IQ has established a strong market presence and reputation for delivering a differentiated technology offering focused on improving customer throughput, recovery and efficiency.”
Molycop Digital President, Darren O’Connell, said the acquisition was the next step for the digital business, enhancing the company’s position in mineral processing.
“We value the breadth of talent and capability the Process IQ team brings to Molycop, and we are excited to move to the next phase of growth for Molycop’s digital business,” he said.
The sale is anticipated to be finalised by the end of November.