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Epiroc to pay nearly $70M for MineRP

Sweden's Epiroc is paying up to circa US$69 million for a South African mining software business, based on future revenues not outlined in vendor or purchaser statements.
Epiroc to pay nearly $70M for MineRP Epiroc to pay nearly $70M for MineRP Epiroc to pay nearly $70M for MineRP Epiroc to pay nearly $70M for MineRP Epiroc to pay nearly $70M for MineRP

A subsidiary of Epiroc has agreed to buy MineRP from Dundee Precious Metals and MineRP management

Staff Reporter

Stockholm-listed Epiroc (EPI-A) is paying US$40 million upfront to Canadian mining company Dundee Precious Metals and its chairman Jonathan Goodman, and to MineRP management (for 25% of the company), and up to $28.7 million more based on future annual revenue milestones. MineRP generated US$16 million of FY20 revenue (ending June 30, 2020).

The deal was expected to close by the end of the March quarter this year, or early in Q2.

 

"We acquired MineRP in 2017 as part of our ongoing strategy to drive innovation at DPM and to leverage a technology with the potential to transform the mining industry," said president and CEO David Rae.

"Having substantially advanced our initiatives and supported MineRP in developing its software to position it for its next phase of growth, the time is right for DPM to divest our interest as we continue to focus on our core mining assets."