Enaex S.A. is a subsidiary of Sidgo Coppers Group, the largest producer of explosive-grade ammonium nitrate in Latin America.Valued at $62 million, the proposed transaction is subject to regulatory approvals and conditions that are expected to be finalised before the end of March next year.Downer chief executive Grant Fenn said the company was in discussions with “a number of interested parties” to sell its remaining mining business, after flagging its intention to become an urban services provider last year.“The sale of Downer Blasting Services follows the sale of the Snowden consulting business and also our share in the RTL Mining and Earthworks joint venture,” Fenn said.“We are in active discussions with a number of interested parties in relation to the rest of the mining portfolio.”Downer had earlier stated that the divestment of its mining business was a short term objective due to the capital intensive nature of this part of its business.Downer Blasting Services was one of the largest blasting contractors in Australia’s mining industry, specialising in open cut blasting, underground blasting, maintenance and emulsion manufacturing.The business has more than 45 explosives delivery systems, five emulsion-manufacturing facilities and 150 workers.
Mining News Pro - Outgoing US President Donald Trump’s administration is moving to loosen mining regulations and green light new mineral projects before leaving ...
Mining News Pro - Gold headed for a sixth weekly advance, the longest run since August, as investors focused on the prospect for more stimulus. They will also be ...
Mining News Pro - Producers of rare earths, under increasing pressure from their industrial buyers over longstanding pollution issues, are hammering out a single set ...
Mining News Pro - Conflicts with indigenous communities have stalled operations at Ecuador’s San Carlos Panantza copper mining project, which the government of ...
Mining News Pro - Rio Tinto’s legal destruction of ancient Australian rockshelters showed the mining sector was exposed to material investment risks without more ...
Mining News Pro - Rio Tinto may face calls to pay compensation or a fine when an Australian parliamentary inquiry releases an interim report on Wednesday into how ...
Mining News Pro - Early running was made by gold stocks, but large-scale diversified companies and base metal producers have now caught up as iron ore and copper ...
Mining News Pro - In its pursuit to map mining districts around South Africa, and in the absence of any publicly available form of mining and prospecting cadastre, ...
Mining News Pro - Glencore Plc, the world’s biggest supplier of cobalt, has extended its supply agreement with battery maker GEM Co., allowing the Chinese company to ...