METS

Orica offloads Minova

Business was considered non-core

Staff reporter

This article is 3 years old. Images might not display.

Orica deemed Minova, which specialises in ground support, non-core in May due to underperformance and announced a sale process.

"The sale of Minova is consistent with our refreshed strategy, which identified Minova as non-core to Orica," Orica CEO Sanjeev Gandhi said.

"This allows us to focus on our four key business verticals of growth - mining; quarry and construction; digital; and mining chemicals. 

"The Minova business will benefit from new ownership with more focus and capital to support its growth." 

The deal is expected to close in the March 2022 quarter.

Shares in Orica last traded at A$13.90, valuing the company at $5.6 billion.

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

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

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG 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.