Latest news with #Micromine
The Herald Scotland
30-04-2025
- Business
- The Herald Scotland
Scottish engineering giant acquires Australian player
Jon Stanton, Weir chief executive, said the firm is 'delighted'. He said: 'Micromine is a high performing, high growth business of scale, and is a natural and complementary fit for Weir. 'Weir's mission is to deliver mining technology for a sustainable future, helping the mining industry produce the metals needed to power the global energy transition. Digital has a big part to play, and Weir is innovating and investing in digital solutions to make mining smarter, more efficient and sustainable.' Mr Stanton added: 'Bringing together Micromine with our existing digital technologies, our vision is to create a digital platform that helps our customers optimise their performance at each step along the mining value chain. This is about bringing together Weir's knowledge, capabilities and expertise to create sector-leading digital solutions for the mining industry.' Weir shares were down 0.71 per cent at 2,224p in afternoon trading. Historic island golf course destroyed by flood saved by rescue mission A golf course designed by Old Tom Morris has been saved after a "Herculean" effort by its members. The unique King James VI Golf Club was designed by the famous course architect and is located on Moncrieffe Island in Perth. It is believed to be the only self-contained inland island golf course in the world and is not far from the city centre. The historic course suffered serious damages during Storm Babet in October 2023 when winds ripped a 120 foot wide hole in the island's flood defences. Only the flags of some of the holes remained visible with the bulk of the island under three feet of water, and when the floods eventually receded only nine holes were left playable. Guest house with 'panoramic views' of Ben Nevis for sale A 'well-established' guest house in a popular Scottish town has been brought to the market. The agent said the business is in 'one of Scotland's most renowned tourist destinations'. CCL Property is marketing the Distillery Guest House, on North Road in Fort William. The agent said: 'The property's location at the foot of Ben Nevis and alongside the River Nevis further enhances its appeal, making it a highly sought-after destination for visitors to the region. 'Its proximity to the town centre provides guests with convenient access to a wide range of amenities, including shops, restaurants, and local attractions.'
Yahoo
03-03-2025
- Business
- Yahoo
Weir to acquire Micromine for $830m to expand mining software solutions portfolio
UK-based engineering company Weir has entered a binding agreement to acquire Micromine, a global mining software provider based in Australia, for an enterprise value of £657m ($830.75m). The acquisition will enhance Weir's digital mining solutions and support its growth strategy. Micromine offers comprehensive solutions across the upstream mining value chain. Its software solutions support key mining processes including exploration, mine design, mine planning, operational scheduling and mining activities across hard ore, soft ore and underground applications. The company has experienced a compound annual growth rate of 25% over the past few years, with 2025 calendar year revenues expected to reach approximately £68m. Micromine's success is attributed to its recurring software-as-a-service subscription income, which accounts for approximately 90% of the company's revenue. Post-acquisition, Weir plans to initially operate Micromine independently while externally reporting under its ESCO Division. Over time, Weir intends to integrate Micromine with its MOTION METRICS and NEXT intelligent solutions, forming a unified digital optimisation platform. Kristen Walsh, the current managing director of the Weir Minerals Division APAC region, will lead the business and report to Weir CEO Jon Stanton, with Micromine CEO Andrew Birch providing advisory support for up to 12 months post-acquisition. The transaction is set to be completed in the second quarter of 2025 (Q2 2025), pending approval by the Foreign Investment Review Board of Australia. Stanton said: 'The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient and sustainable mining. The combined force of Micromine and Weir will create a sector-leading, globally scaled platform to optimise performance across the mining process. 'In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir's aftermarket-focused business model and current digital solutions. This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.' Weir's acquisition of Micromine at a revenue multiple of approximately ten-times December 2025 revenue and an earnings before interest, taxes, depreciation and amortisation (EBITDA) multiple of around 20 times, excluding synergies, is expected to be accretive to the company's revenue growth and operating margin profile. The deal is anticipated to be earnings-per-share accretive in the first full year of ownership, with return on invested capital expected to exceed the weighted average cost of capital by 2028. At the Prospectors & Developers Association of Canada Annual Convention last week, Micromine announced plans to unveil the Micromine Origin Grade Copilot, an AI-driven modelling tool, in collaboration with Kinross Gold. The tool utilises 'advanced' neural networks to effectively develop 'robust' geological and grade models, facilitating more assured exploration choices and resource assessments. Earlier this month, Micromine launched a new tool, Micromine Advance, aimed at enhancing the efficiency of underground mine planning. "Weir to acquire Micromine for $830m to expand mining software solutions portfolio" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
