IGO suspends annual dividends from Tianqi JV amid market downturn
The JV experienced a build in lithium hydroxide inventory at Kwinana over recent months.
FLSmidth announced this week that it has completed the buyout of Australia’s IMP Automation Group.
According to the Danish firm, the decision to acquire IMP came to be due to the need to have a more complete portfolio of automated laboratory solutions for the mining industry, given the current climate of high exploration activity and increased focus on productivity.
In a press release, FLSmidth said that the fact that IMP has a strong foothold in Australia and South Africa also played a role in its interest to acquire it.
Over 130 employees, including IMP’s managing director, Boyne Hohenstein, will now be on FLSmidth’s payroll.
“With this acquisition, our flowsheet of laboratory solutions within mining and minerals processing is complete,” — Manfred Schaffer.
“In FLSmidth we have found a partner with the right global sales network to take us to the next level. For years, we have combined profound laboratory process knowledge with automation skills and developed novel and innovative solutions. I am very excited that we now can reach a global audience with our offerings and solutions”, Hohenstein said.
The transaction includes IMP’s 50% share in a Joint Venture that provides complete O&M based solutions for automated labs.
The Copenhagen-based engineering company revealed that the acquired parts, including the JV, generated revenues in excess of approximately $37.7 million in 2018.
“We see a strong match between some of our digital initiatives in FLSmidth and IMP’s automation solutions that will help miners get better data on their ore and assist in optimising the processing,” said Manfred Schaffer, President of the Mining division at FLSmidth.
In Schafer’s view, miners see themselves more and more in need of process optimisation as declining ore grades make it necessary to increase productivity.
