JOHANNESBURG (miningweekly.com) - Professional services firm Deloitte has acquired mining services consultancy Venmyn to create a new technical and economic minerals advisory business.
The deal has resulted in Deloitte acquiring 100% of the current Venmyn business for an undisclosed amount and consolidates its existing mining advisory services practice into the new entity, which would be known as Venmyn Deloitte.
Businesspeople Andy Clay and Willo Stear, along with Rand Merchant Bank, formed Venmyn in 1988 after they left the then Rand Mines.
Venmyn MD Andy Clay will head up the new business. "This is a new chapter for Venmyn that will allow us to serve a wider market and enhance our value proposition to clients through the power of the Deloitte network," he said.
Deloitte mining advisory leader Southern Africa Abrie Olivier commented that the acquisition emphasised the group’s commitment to the global mining industry.