.OricaLimited has announced a major capital raise and plans to acquire Axisminingtech in a deal worth up to A$350million MergersAndAcquisitions acquisition resources finance funding growth mining Australia
KALGOORLIE – Mining solutions provider Orica has announced the acquisition of digital orebody intelligence business Axis Mining Technology for up to A$350-million.
The placement will see 40.6-million new shares being issued, representing 9.9% of Orica’s existing issued capital.In addition, the company is hoping to raise a further A$75-million through a share purchase plan , allowing shareholders to subscribe for up to A$30 000 worth of additional new shares in the company.
“We are extremely pleased to welcome Axis into Orica. This strategic acquisition further strengthens our existing Digital Solutions vertical and expands our orebody intelligence portfolio upstream,” Orica MD and CEO“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.
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