SSH Group to acquire Total Contract Mining
The agreement follows a non-binding term sheet signed for the acquisition in March 2025.
The acquisition is contingent upon the fulfilment of several conditions including key leadership appointments and the establishment of consulting agreements with associates of TCM.
The settlement, expected by 16 May 2025, will see Samuel Baker from TCM appointed as chief operating officer of SSH's mining services division, SSH Mining, and Kevin Malaxos joining as a non-executive director of SSH.
Additionally, two TCM associates will be engaged as mining consultants within the SSH Group.
These strategic appointments are expected to enhance SSH Group's leadership and contribute to its operational excellence and strategic growth.
As part of the deal, SSH will issue seven million performance rights to Baker, Malaxos and the TCM consultants. These rights will convert into shares upon SSH Mining achieving net profit before tax of A$4m within an 18-month period, provided the TCM personnel remain with the company.
SSH Group managing director Daniel Cowley-Cooper said: "The acquisition of Total Contract Mining represents a significant strategic step forward for SSH Group and its mining services vertical SSH Mining. The transaction and appointments not only strengthen our operational capacity but bring in a team of highly capable professionals with deep industry knowledge and a proven track record in hard rock mining across Western Australia.
'We are excited to welcome Mr Sam Baker and Mr Kevin Malaxos into senior leadership roles. Their combined experience and commitment to performance-aligned outcomes will enhance our ability to deliver value to our clients and shareholders. This agreement reflects our confidence in the SSH Group and establishes a greater presence in Australia's Mining and Civil Industries.'
"SSH Group to acquire Total Contract Mining" was originally created and published by Mining Technology, a GlobalData owned brand.
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