Australian-headquartered Orica confirmed it has inked a deal to acquire U.S.-based Cyanco Intermediate 4 Corp. for $640 million in a bid to extend its mining chemicals business presence.<\/p>\n\n\n\n
Officials said the price tag will be paid via financial backing of $261.9 million along with existing cash and debt facilities.<\/p>\n\n\n\n
Cyanco, a distributor and maker of sodium cyanide mainly for the gold mining industries of the U.S., Canada, Mexico, Latin America and Africa, will be a complement to its established business arm in the sector and will create for it an integrated global network.<\/p>\n\n\n\n
\n\u201cThe acquisition will more than double Orica\u2019s existing sodium cyanide production capacity and provide us with the ability to cater to the highly attractive U.S. and Canadian gold mining industries,\u201d Orica MD and CEO Sanjeev Gandhi said.<\/p>\n<\/blockquote>\n\n\n\n
\u201cBy combining these two leading businesses, we expect to improve our ability to serve our customers by enhancing Orica\u2019s global network of transfer stations in key gold mining regions, supporting security of supply to mine sites.\u201d<\/p>\n\n\n\n
The acquisition is expected to be completed by the end of fiscal 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"
Australian-headquartered Orica confirmed it has inked a deal to acquire U.S.-based Cyanco Intermediate 4 Corp. for $640 million in a bid to extend its mining chemicals business presence. Officials said the price tag will be paid via financial backing of $261.9 million along with existing cash and debt facilities. Cyanco, a distributor and maker of sodium cyanide mainly for the…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[3034,1668,345,3035],"coauthors":[1644],"class_list":["post-7788","post","type-post","status-publish","format-standard","hentry","category-the-headlines","tag-cyanco","tag-gold-mining","tag-orica","tag-sodium-cyanide"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t