Orica to acquire Cyanco for $640m.

Orica, a provider of commercial explosives and blasting systems to the mining and infrastructure markets, agreed to acquire Cyanco, a producer of sodium cyanide, a critical input in the gold and silver mining industry, for $640m. “Cyanco is a highly complementary business, and by combining it with our established sodium cyanide business, Orica will create a leading integrated global sodium cyanide producer with world-class supply capabilities in mining. The Acquisition will more than double Orica’s existing sodium cyanide production capacity and provide us with the ability to cater to the highly attractive US and Canadian gold mining industries. By combining these two leading businesses, we expect to improve our ability to serve our customers by enhancing Orica’s global network of transfer stations in key gold mining regions, supporting security of supply to mine sites. The Acquisition is mutually beneficial to both Cyanco and Orica stakeholders, and we look forward to welcoming Cyanco’s employees to Orica. We are excited about the opportunities this will create for Orica, our customers, and our shareholders," Sanjeev Gandhi, Orica Managing Director and CEO.