29 February 2024
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Orica goes up the value chain with acquisition and capital raising

Paul Rickard
4 August 2022

Explosives, blasting systems and mining chemicals provider Orica (ORI) is going “up the value chain” with its $350 million acquisition of Axis Mining Technology and $725 million capital raising. This is part of a strategic push to be “the world’s leading mining and infrastructure solutions company”, which includes the provision of orebody intelligence products and participation in the digitisation of the mining value chain.

Axis is a leader in the design, development and manufacture of specialised geospatial mining tools. These tools are used to determine the location and orientation of drill holes and collection samples. Based in Australia and the UK, it distributes products to over 30 countries, with commodity exposure geared to gold and copper.

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