Orica has added to its mining chemical business with the acquisition of Denmark-based Danafloat from New York Stock Exchange-listed FMC Corporation for an undisclosed price.
FMC, which bought Danafloat parent Cheminova for US$1.8 billion in 2015, said in February this year it was reviewing various strategic options – including the sale of the whole company – to deal with its crippling debt (circa-$4.5 billion at the end of September, 2025). The company generated $3.47 billion of predominantly agricultural chemical sales in 2025, with 3% (c$104 million) of its revenues classified as “other”.
Orica reported A$101 million of earnings before interest and tax from its specialty mining chemicals arm for the year to September 30, 2025.
The ASX-listed company said it had expanded from mainly gold processing chemicals into copper processing chemistry with the acquisition of Danafloat.
“Danafloat is a specialist range of high-performance collectors used in floatation of copper and other future-facing commodities to maximise ore recovery, enhance concentrate quality and minimise environmental impacts,” Orica said.
“The acquisition includes proprietary formulation intellectual property, inventory, branding and existing customer relationships.”
Danafloat, which manufactures in western Jutland, Denmark, was part of the Cheminova business established in Copenhagen by chemical engineer Gunnar Andreasen in 1938.
FMC narrowed its focus to fungicides, herbicides, insecticides and plant health after previously being involved in trona, phosphate and lithium mining. It sold its Alkali Chemicals business to Tronox for US$1.64 billion in 2015.
Orica said Danafloat’s mining customer base extended across Europe, the Middle East and Africa to Latin America.
“Customers want increasingly specialist chemistry that is orebody-specific for maximum recovery, enhanced concentrate quality and circuit stability,” Orica specialty mining chemicals president Andrew Stewart said.
Orica outlaid US$640 million in 2024 for US-based sodium cyanide manufacturer Cyanco.
