Interesting article...
https://www. afr . com/ companies/mining/orica-backs-gold-boom-buys-us-cyanide-plants-for-nearly-1b-20240221-p5f6l1
Relevant quotes for those blocked by the AFR paywall...
The acquisition of Cyanco is part of Mr Gandhi’s strategy to expand Orica’s chemical business to offer more than explosives to mining clients. Acquiring a battery chemical company is still on the radar, he added.
Mr Gandhi said he was still looking to acquire a company to supply chemicals to help purify metals for the growing battery sector, but the lithium and nickel market rout made that a “challenge”.
“Our ambition to grow into battery chemicals is still there. It’s been a bit more challenging because nickel and lithium [market rout] and lower EV demand. We’ve been talking to people, but we have not been able to finalise a deal. It’s a work in progress.”
He said the battery chemical deal might not be a billion-dollar acquisition, suggesting they might be “small bolt-ons like in digital solutions”.
I'm not suggesting he's referring to Alpha above, although maybe he is when he says 'supply chemicals to help purify metals'?
But, at the very least, I wonder if they'll be up for some equity finance, hopefully alongside Aus Super?
Good luck all.
Interesting article... https://www. afr . com/...
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