Joy Global snaps up Sudbury firm
Milwaukee-based mining-equipment manufacturer Joy Global (NYSE: JOY) has entered a definitive agreement to buy Sudbury-based Mining Technologies International (MTI) for $51 million.
Joy is acquiring all MTI assets related to hard-rock drilling, loaders, dump trucks, shaft sinking and raise-boring equipment.
“This acquisition represents an exciting opportunity as we execute on our growth strategy to expand our underground mining product lines into the hard-rock markets, including nickel, potash, palladium, platinum, gold and copper,” Joy CEO Ted Doheny said in a release. “We believe that MTI’s broad range of complementary products — combined with Joy’s proprietary technology, our global direct-service team and operational excellence capabilities — will provide significant value to hard-rock mining customers and our shareholders.”
With four manufacturing facilities, MTI is Canada’s largest privately owned mining-equipment manufacturer. The company is headed by president and CEO Robert Lipic.
SRK celebrates 40th anniversary
Mining consultancy SRK Group is celebrating 40 years in business. Since starting in Johannessburg in 1974, the firm has grown and spread throughout the globe, and now employs 1,500 people in more than 50 offices on six continents.
At first SRK focused on providing geotechnical and mine-design services, but over the last four decades it has broadened its scope to cover all aspects of the mining industry, from grassroots exploration to mine closure.
“Mining, by its very nature, requires a multi-disciplinary approach,” SRK (South Africa) chairman Roger Dixon said in a statement. “This applies more today than ever before, particularly with respect to the environmental and social impacts of mineral projects.”
Anglo American taps GE to clean up waste water
To comply with new environmental standards in B.C., Anglo American (LSE: AAL; US-OTC: AAUKY) will employ GE’s (NYSE: GE) “advanced metal-removal process” (ABMet) to remove nitrate and selenium from the waste water produced at its Peace River metallurgical coal mine in Tumbler Ridge, B.C.
The ABMet process involves running waste water through a biologically active filter, which is seeded with naturally occurring microbes that target selenium and other potentially toxic metals.
The project will be the first ABMet installation in Canada, and the waste-water treatment plant is expected to enter commercial operation by mid-year.
Sandvik drilling platform wins design award
Amsterdam-headquartered equipment manufacturer Sandvik Mining’s Pantera DI6400 down-the-hole percussive drill platform has been honoured with a prestigious Red Dot Award, deemed “Best of the Best” in the product-design category for 2014.
Pantera was designed to deliver mine operators increased drilling capacity, lower fuel consumption and improved safety.