METS

Epiroc to pay nearly $70M for MineRP

The sale of Dundee's 70% stake in MineRP can generate income of up to US$68M

Staff Reporter
A subsidiary of Epiroc has agreed to buy MineRP from Dundee Precious Metals and MineRP management

A subsidiary of Epiroc has agreed to buy MineRP from Dundee Precious Metals and MineRP management

Stockholm-listed Epiroc (EPI-A) is paying US$40 million upfront to Canadian mining company Dundee Precious Metals and its chairman Jonathan Goodman, and to MineRP management (for 25% of the company), and up to $28.7 million more based on future annual revenue milestones. MineRP generated US$16 million of FY20 revenue (ending June 30, 2020).

The deal was expected to close by the end of the March quarter this year, or early in Q2.

 

"We acquired MineRP in 2017 as part of our ongoing strategy to drive innovation at DPM and to leverage a technology with the potential to transform the mining industry," said president and CEO David Rae.

"Having substantially advanced our initiatives and supported MineRP in developing its software to position it for its next phase of growth, the time is right for DPM to divest our interest as we continue to focus on our core mining assets."

 

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.