Chemicals and explosives manufacturer Orica is to acquire 100 per cent of the common stock of Cyanco Intermediate 4 Corp. (Cyanco) (the Acquisition) from an affiliate of Cerberus Capital Management, L.P. (Cerberus) for US$640 million. The acquisition of Cyanco, a US-based leader in the manufacture and distribution of sodium cyanide primarily serving the gold mining…
Explosives and blasting technology group Orica has reported strong earnings across all business segments for FY2023. Statutory Net Profit After Tax (NPAT) was reported as $295.7 million, compared to $60.1 million in the previous year but including $73.3 million of significant items expense after tax. Underlying EBIT from continuing operations was $698.1 million, up 24…
Chemicals and explosives technology manufacturer Orica today announced accelerated climate change targets. The Melbourne company has invested to deliver significant reductions in net operational Scope 1 and 2 greenhouse gas (GHG) emissions, according to the company. A forecast 19 per cent emissions reduction from FY2019 levels by the end of FY2023, successful low-emissions technology deployments,…
Explosives and fertiliser manufacturer Orica has said it will follow on from significant reductions in carbon emissions from its New South Wales ammonia nitrate facility under the federal government’s Safeguard mechanism with further cuts planned at its Queensland sites. Speaking at a Thursday press conference, Orica CEO Sanjeev Gandhi said emissions had been cut this…
Explosives and mining technology group Orica is riding a wave of high commodity prices boosting customers fortunes to notch up a 32 percent rise in half year underlying operating profit of $323 million. The result, which yielded a net profit after tax of $123 million in the half year ended 31 March, came after a…
Chemicals and explosives manufacturer Orica has announced a Statutory Net Profit After Tax (NPAT) for the year ended 30 September of $60 million, and underlying earnings before interest and tax (EBIT) of $579 million, up 36 per cent on the previous corresponding period. Return on net operating assets increased from 8.1 per cent in FY2021…
Chemicals and explosives manufacturer Orica has completed the acquisition of 100 percent of Axis Mining Technology, a leader in the design, development and manufacture of specialised geospatial tools and instruments for the mining industry. Announced in August, the $260 million acquisition presents compelling growth opportunities across the mining value chain, by combining Orica and Axis’…
Chemicals and explosives group Orica has stepped up its commitment to achieving net zero emissions by 2050 by announcing new interim reduction targets. The company announced it will source 100 per cent renewable electricity by 2040, with an interim step of 60 per cent by 2030. Orica has a target to reduce scope 1 and…
Explosives and mining technology company Orica is to expand its interests in orebody intelligence with the purchase of underground geospatial systems manufacturer Axis Mining Technology for $260 million in cash. With Orica already a leader in digital explosives technologies at minesites, the addition of Axis orebody characterisation capabilities strengthens the company’s digital solutions vertically. Orica…
Fertilizer, chemicals and explosives business Orica has largely recovered from the disruptions of recent years posting an improved first half result driven by better market conditions and a refreshed strategy. The Melbourne company reported a net loss after tax of $85 million for the first half held back by significant items, and an underlying EBIT…
