Contract mining company Redpath Mining subsidiary Redpath (Australia) Holdings has signed a share purchase agreement to acquire fellow contract miner RUC Mining Contractors.
Upon securing regulatory approvals, it is expected that the acquisition will be completed and that RUC will officially become part of Redpath by June.
Redpath Group CEO George Flumerfelt said in a media release on March 26 that the acquisition strengthens Redpath’s position in mine development, shaft sinking and raise drilling services.
“Redpath has held RUC in high regard for a long time and this agreement is evidence of the quality of service and expertise it sees across the RUC team. Our combined capabilities will be a compelling proposition to customers and strengthen our position in capturing large and important projects in the future,” Flumerfelt said.
He added that acquiring RUC would give Redpath enhanced scale, capabilities and a stronger balance sheet to strengthen the company’s market position and fund growth, particularly in the Australian, African, European and Asian markets.