ASX-listed mining company Orica has completed the acquisition of Axis Mining Technology, a manufacturing leader for specialised geospatial tools and instruments for the mining industry.
The acquisition, which was announced 3 August, will combine Orica and Axis’ capability and Orica’s global network to foster compelling growth opportunities across the mining value chain.
As part of the transaction, Orica acquires 100 per cent of the share capital in the entities that own Axis Mining Technology.
Orica Managing Director and CEO Sanjeev Gandhi said the acquisition strengthens Orica’s existing Digital Solutions platform and expands its Orebody Intelligence business.
“Orica’s purpose is to sustainably mobilise the earth’s resources and achieving this starts with a better understanding of the orebody at the start of the mining value chain. Axis’ differentiated geospatial tools and instruments, combined with our existing suite of digital solutions will provide compelling orebody intelligence to customers and support the delivery of the industry’s first end-to-end solutions platform, from mine to mill,” Gandhi said.
Axis’ geospatial technology is also expected to bolster Orica’s capabilities to support new mineral discoveries required for decarbonisation as new mineral discoveries are increasingly located at greater depths and demand more precise geophysics.
Axis’ gold and copper exposure also complement Orica’s broader commodity mix objectives, Orica said in its statement issued Monday.
