Orica extends orebody intelligence equipment offerings

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’ capability and Orica’s global network and footprint, according to the Melbourne company.

Orica Managing Director Sanjeev Gandhi said: “This strategic acquisition further strengthens our existing Digital Solutions platform and expands our 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.”

Axis is a supplier of instrumentation, data and drilling solutions to the mining and minerals sectors, including in-drill hole instruments such as the Axis Champ Navigator (pictured), a multifunctional North Seeking solid state gyro system that allows users to both align a drill rig and survey the drill hole at the one time.

“The integration of Axis’ technology and expertise will accelerate our ability to support our customer’s digital transformation efforts around the world, helping them to operate more efficiently, sustainably and safely.”

Axis’ geospatial technology also accelerates 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, said Gandhi.

Axis’ gold and copper exposure also complement Orica’s broader commodity mix objectives.

Orica has also agreed to a deferred payment up to a maximum $90 million to Axis’ owners depending on profit milestones being achieved.

Picture: Axis Mining Technology