Orica had not missed out on recent consolidation opportunities in the A$23 billion specialty mining chemicals market, including US-based Chemours’ sodium cyanide business, CEO Sanjeev Gandhi said this week. The “sector pioneer” would “always have a seat at the table” in M&A talks, he said. “But Orica is also happy to walk away where we see challenges.”
President of Orica’s chemicals arm, Adam Hall said the company was “pretty excited by the cyanide market growth outlook”, with moderate (circa 1.6% per annum) projected gold production growth set to translate into significantly higher (up to 4% pa) cyanide use due to increased gold ore complexity, and continued to look at organic and inorganic expansion opportunities. Its mining chemicals division generated A$260 million of FY21 sales.
